28 Jan 2016
EUR/USD could visit 1.0985 in the near-term – UOB
FXStreet (Edinburgh) - In view of the research team at UOB Group, the pair’s corrective upside could see a test of the 1.0985 level in the next weeks.
Key Quotes
“A test of the month-to-date high of 1.0985 will not be surprising but a sustained up-move is unlikely”.
“The breach of the 1.0905 stop-loss yesterday nullified our bearish EUR view”.
“While the undertone remains positive, the current movement is unlikely to be part of a directional move”.
“We are neutral now but the short-term bias is for a move higher to test the month-to-date high near 1.0985 even though a sustained move above this level appears unlikely. Strong support is at 1.0815”.
Key Quotes
“A test of the month-to-date high of 1.0985 will not be surprising but a sustained up-move is unlikely”.
“The breach of the 1.0905 stop-loss yesterday nullified our bearish EUR view”.
“While the undertone remains positive, the current movement is unlikely to be part of a directional move”.
“We are neutral now but the short-term bias is for a move higher to test the month-to-date high near 1.0985 even though a sustained move above this level appears unlikely. Strong support is at 1.0815”.