The trend for the euro (EUR) is upwards, but any advance may not reach 1,1050. In the long term, the decrease in impulse indicates that the possibility that the EUR rise has decreased; A breakdown of 1,0850 would suggest that the EUR has entered a negotiation phase in the rank, the FX analysts of UOB Group, quek being Leang and Peter Chia.
The possibility that the EUR rise has decreased
24 -hour vision: “After irregular MAS movements on Monday, we indicate yesterday that ‘the price action does not provide new clues.’ We expected the Eur ‘to negotiate between 1,0860 and 1,1030.’ However, the EUR was negotiated in a narrower range than expected (1.0886/1,0991).
Vision at 1-3 weeks: “We continue to maintain the same opinion as yesterday (April 8, quotation in 1,0925). As highlighted, the recoil in the EUR to 1,0881 on Monday ‘has resulted in a decrease in the uphill impulse, and the possibility that the EUR rise has decreased.’ A break of 1,0850 (without change in the level of ‘strong support’) would indicate that instead of moving more, the Eur ‘has entered a negotiation phase in the range.’ Looking forward, if the EUR closes above 1,1050, it will increase the probability of trying the maximum of the month to date, about 1,1145. “
Source: Fx Street
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