The pair’s near term outlook has now shifted to neutral from bearish, informed FX Strategists at UOB Group. Key Quotes 24-hour view: “The weak daily closing in NY last Friday and the weak opening in Sydney this morning does not bode well for USD. The pressure is clearly on the downside and the 110.75 support is likely to be tested. Further down, the next support is at 110.35 and this level could be out of reach for now. On the upside, 111.80 is expected to be strong enough to cap any intraday USD strength (minor resistance is at 111.50)”. Next 1-3 weeks: “In our last update on 13 Jul (spot at 112.55), we were bullish USD and expected a move to 113.40. The bullish phase ended quickly as USD plummeted last Friday and closed sharply lower (closed at 111.39, -0.94%). The pressure has shifted quickly to the downside and while the outlook for USD is deemed as neutral for now, a test of the month-to-date low near 110.25 would not be surprising. On the upside, only a move 111.80 would indicate that the current downward pressure has eased”. 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 China: Economic growth to decelerate in 2018 – BNP Paribas FX Street 5 years The pair's near term outlook has now shifted to neutral from bearish, informed FX Strategists at UOB Group. Key Quotes 24-hour view: "The weak daily closing in NY last Friday and the weak opening in Sydney this morning does not bode well for USD. The pressure is clearly on the downside and the 110.75 support is likely to be tested. Further down, the next support is at 110.35 and this level could be out of reach for now. On the upside, 111.80 is expected to be strong enough to cap any intraday USD strength (minor resistance is at 111.50)". Next… 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.
