Possibility that the euro (EUR) re -tests the level of 1,1290 against the US dollar (USD) before a more sustained decline is probable; A clear rupture above this level is unlikely. In the long term, the increase in momentum is not enough to suggest sustained advance; The EUR must first break decisively above 1,1290, indicate the FX analysts of UOB Group, to be Leang and Peter Chia.
The increase in momentum is not enough to suggest sustained advance
24 -hour vision: “We expected the Eur ‘to quote with a bullish inclination’ yesterday. We point out that ‘since the momentum is not strong today, any advance is probably limited to a test of 1,1225.’ However, the EUR exceeds 1,1225 to reach 1,1288 before going back and closing at 1,1242 (+0.71%). 1,1195 (the minor support is in 1,1215), would suggest that it is more likely to be cited in a range instead of testing 1,1290. “
Vision at 1-3 weeks: “Our most recent narrative was last Thursday (May 15, Spot in 1,1180), where the EUR ‘has probably entered a consolidation phase, and it is likely that it is likely between 1,1100 and 1,1290 for the moment.’ After contributing in rank for a few days, the EUR rose and reached 1,1288 yesterday. 1.1165. “
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
