4 Mar 2016
EUR/USD bullish above 1.1005/10 – UOB
According to the research team at UOB Group, EUR/USD could turn ts outlook to bullish after a close above 1.1005/10.
Key Quotes
“When we turned bearish on Monday (29 Feb), we had a ‘modest’ downside target of 1.0810”.
“The low has been 1.0823 and the subsequent strong rebound from the low took out the stop-loss at 1.0965”.
“The outlook is neutral for now but upward momentum is building up and a daily closing above 1.1005/10 would be a strong indication that we are going to see a higher EUR in the coming weeks”.
“In the meanwhile, this pair is expected to be underpinned with support 1.0900 followed by the solid level of 1.0810”.
Key Quotes
“When we turned bearish on Monday (29 Feb), we had a ‘modest’ downside target of 1.0810”.
“The low has been 1.0823 and the subsequent strong rebound from the low took out the stop-loss at 1.0965”.
“The outlook is neutral for now but upward momentum is building up and a daily closing above 1.1005/10 would be a strong indication that we are going to see a higher EUR in the coming weeks”.
“In the meanwhile, this pair is expected to be underpinned with support 1.0900 followed by the solid level of 1.0810”.