The bullish impulse is slowing down, but the euro (EUR) could advance within a range of 1,1360/1,1420 against the US dollar (USD). In the long term, a decisive rupture above 1,1435 could push the EUR to 1,1475, with potential for more profits, the FX analysts of UOB Group, to be Leang and Peter Chia.
A decisive rupture above 1,1435 can push the EUR to 1,1475
24 -hour vision: “We highlight yesterday that EUR ‘could prove the main resistance in 1,1400, but it is unlikely that there is a sustained increase above this level.’ We point out that ‘the next main resistance in 1,1435 is also unlikely to be in danger.’ Our analysis turned out to be correct, since the EUR rose to 1,1418 and then relaxed to close in 1,1387, an increase of 0.20%. 1,1420. “
Vision at 1-3 weeks: “Last Thursday (May 22, quotation in 1,1325), we indicate that ‘The price action suggests a greater strength of the EUR, with 1,1400 now in the focus.’ Yesterday (May 26), when the EUR was in 1,1370, we affirmed that ‘the probability that the EUR breaks above 1,1400 is increasing.’ We also affirm that ‘if the EUR breaks above 1,1400, there is a relatively close resistance in 1,1435.’ The EUR/USD later rose to a maximum of 1,1418. Since mid -last week (see scores in the graph below) has come to an end. “
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.
