According to FX Strategists at UOB Group, the pair keeps its bullish view unchanged and is now targeting the 114.70 area in the short-term horizon. Key Quotes 24-hour view: “USD hit a fresh multi-month high of 114.06 before easing off. Despite the fresh high, the up-move is struggling to maintain its momentum and further sustained advance is not expected (at least not for today). USD is more likely to consolidate and trade sideways at these higher levels, likely within a 113.70/114.15 range”. Next 1-3 weeks: “We highlighted last Friday (28 Sep, spot at 113.40) a “NY closing above 113.75 would indicate the current positive USD outlook has morphed into a bullish phase”. The condition was met when USD closed at 113.91 yesterday (01 Oct). The immediate bullish ‘target’ is at 114.70 while the ‘stop-loss’ level is at 113.15. That said, short-term indicators are at severely overbought levels and this could lead to a couple of days of consolidation first (before the next leg higher in USD can be expected)”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EU’s Juncker: “We want a (Brexit) deal” FX Street 4 years According to FX Strategists at UOB Group, the pair keeps its bullish view unchanged and is now targeting the 114.70 area in the short-term horizon. Key Quotes 24-hour view: "USD hit a fresh multi-month high of 114.06 before easing off. Despite the fresh high, the up-move is struggling to maintain its momentum and further sustained advance is not expected (at least not for today). USD is more likely to consolidate and trade sideways at these higher levels, likely within a 113.70/114.15 range". Next 1-3 weeks: "We highlighted last Friday (28 Sep, spot at 113.40) a "NY closing above 113.75 would… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
