FX Strategists at UOB Group remain neutral on spot and noted the pair has moved into a consolidative theme. Key Quotes 24-hour view: “USD traded between 112.59 and 112.99 yesterday, narrower than our expected 112.60/113.20 consolidation range. The consolidation phase appears incomplete even though the weakened undertone suggests a lower trading range of 112.40/113.10″. Next 1-3 weeks: “After touching a high of 113.38 on Wed (31 Oct), USD slipped and edged below the strong 112.60 support (overnight low of 112.59). As highlighted yesterday, a break of this level is enough to indicate that upward pressure has eased. After the recent whippy price action, the near-term outlook is clouded and from here, it seems that USD has likely moved back into a range trading phase. Expected range for the next couple of weeks; 112.00/113.50″. 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 Gold holds steady just below weekly tops, NFP awaited FX Street 4 years FX Strategists at UOB Group remain neutral on spot and noted the pair has moved into a consolidative theme. Key Quotes 24-hour view: "USD traded between 112.59 and 112.99 yesterday, narrower than our expected 112.60/113.20 consolidation range. The consolidation phase appears incomplete even though the weakened undertone suggests a lower trading range of 112.40/113.10". Next 1-3 weeks: "After touching a high of 113.38 on Wed (31 Oct), USD slipped and edged below the strong 112.60 support (overnight low of 112.59). As highlighted yesterday, a break of this level is enough to indicate that upward pressure has eased. After the recent… 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.
