In the opinion of UOB Group Economist Lee Sue Ann and Market Strategist Quek Ser Leang, EUR/USD should keep trading within the range of 1.0800-1.0930 In the next weeks.
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24 hour view: “Yesterday we stated that EUR/USD “likely trades with a bearish bias, but is unlikely to challenge the main support at 1.0800.” In the London session, EUR/USD fell sharply but briefly to 1.0800 before bouncing. EUR/USD seems to have entered a consolidation phase and is likely to trade between 1.0815 and 1.0900 today.”
Next 1-3 weeks: “On Monday (Jan 30, EUR/USD at 1.0870) we note that the pair appears to have entered a consolidation phase and is likely to trade between 1.0800 and 1.0930 for now. EUR/USD briefly fell to 1.0800 yesterday before For now, our view has not changed. Going forward, the risk of EUR/USD breaking the 1.0800 level first looks higher and if it does, it could trigger a retracement towards the next major support at 1.0720 “.
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.