A strong rebound can extend even more; The overcompra conditions suggest that the euro (EUR) is unlikely to break clearly above 1,1620. In the long term, the EUR is expected to continue quoting in a range; Given the increase in volatility, now it is likely to be cited between 1,1480 and 1,1660, the FX analysts of UOB Group, quek being Leang and Peter Chia.
EUR is expected to continue quoting in a range
24 -hour vision: “Yesterday we affirm that ‘there is a possibility that the EUR tests 1.1445.’ We also affirm that ‘the main support in 1,1400 is unlikely to be in danger.’ While the EUR fell to a minimum of 1,1451 in the London session, then abruptly rebounded to 1,1581. (The minor support is in 1,1560), it would indicate that the rebound is ready to take a break. “
Vision at 1-3 weeks: “In our most recent narrative last Thursday (June 19, Spot in 1,1475), we highlight that EUR ‘is likely to be coticated in a range for now, probably between 1,1400 and 1,1570.’ Yesterday, the Eur fluctuated in a wide range between 1,1451 and 1,1581.
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.
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