The current price movements are probably part of a negotiation phase in range between 1,1470 and 1,1540. In the long term, the Euro (EUR) is likely to be negotiated in a range against the US dollar (USD) for now, probably between 1,1400 and 1,1570, the FX analysts of UOB Group Quek Qow being Leang and Peter Chia point out.
EUR is likely to be negotiated in a range
24 -hour perspective: “When the EUR was in 1,1475 in the first Asian session of yesterday, we highlight that ‘there has been a slight increase in the downward impulse.’ We indicate that the EUR ‘could slightly and potentially try the level of 1,1440.’ While the EUR later fell, it only reached a minimum of 1,1445 before bouncing and closing in 1,1494 (+0.13%).
Perspective 1-3 weeks: “There is not much to add to our update yesterday (June 19, for 1,1475). As stood out, the EUR is likely to be negotiated in a range for now, probably between 1,1400 and 1,1570.”
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.
