In the opinion of the currency strategists of the UOB Group, the EUR / USD remains prepared to maintain consolidation between 1.1700 and 1.1800 In the next weeks.
24 hour opinion: “Our expectations that the EUR / USD ‘would move between 1.1720 and 1.1760’ last Friday were incorrect, as it fell to 1.1690 before settling at 1.1714 (-0.19%). Despite the decline, the downward momentum did not it has improved a lot and the EUR / USD is likely to move between 1.1700 and 1.1745 today. “
Next 1-3 weeks: “There is no change in our opinion since last Friday (September 24, EUR / USD at 1.1745). As highlighted, the recent weak phase of the EUR / USD is over and the EUR / USD is likely to trade. between 1.1700 and 1.1800 for now. While EUR / USD subsequently dipped to 1.1699, the downside momentum has not improved. That said, going forward, the downside risk is higher, but EUR / USD has to close below 1.1680 before a sustained decline can be expected. “