UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang suggest further downside could drag EUR/USD to the 1.0720 region in the next f
UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang suggest further downside could drag24-hour view: Our expectations for EUR to break below 1.0765 did not materialise. Instead, EUR traded in a relatively narrow range between 1.0770 and 1.0808 before closing at 1.0794 . Momentum indicators are mostly flat, suggesting EUR is likely to trade sideways today, probably between 1.0770 and 1.0820.
Next 1-3 weeks: We continue to hold the same view as yesterday . As highlighted, there is a tentative buildup of downward momentum. This could cause EUR to edge lower to 1.0720. Looking ahead, EUR must break and stay below 1.0720 before a sustained decline can be expected. On the upside, if EUR breaks above 1.0860, it would mean that the momentum buildup has faded. Information on these pages contains forward-looking statements that involve risks and uncertainties.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD Price Analysis: Euro sellers need validation from 1.0750 and ECB’s LagardeEUR/USD remains on the back foot around 1.0780–75 after breaking the key support line stretched from March, now immediate resistance around 1.0780 dur
Read more »
EUR/USD remains on the defensive around 1.0780, eyes on ECB Lagarde’s speechThe EUR/USD pair remains on the defensive above the mid-1.0700s during the Asian session on Monday. The major currently trades near 1.0782, gaining 0.
Read more »
EUR/USD is still at risk of more downsidesLooking at the 4-hour chart, the pair peaked near 1.0945 and started a fresh decline. It trimmed all gains and traded below the 1.0850 level. Besides,
Read more »
EUR/USD could slip back to 1.0720Further decline could see EUR/USD revisiting the 1.0720 region in the next few weeks, note Economist Lee Sue Ann and Markets Strategist Quek Ser Leang
Read more »
EUR/USD Forecast: Euro looks to extend technical correctionEUR/USD fell sharply on Friday and closed the seventh consecutive in the negative territory. Supported by the improving risk mood early Monday, the pa
Read more »
EUR/USD Forecast: Unconvinced bulls at the brink of giving upThe EUR/USD pair recovered some ground on Monday, currently trading at around the 1.0800 level after bottoming at 1.0771 early in the Asian session.
Read more »