EUR/USD going nowhere, within 1.1120/1.1290 – UOB

In opinion of the research team at UOB Group, EUR/USD remains poised to extend its sideline theme between 1.1120 and 1.1290 for the next 1-3 weeks.

Key Quotes

“EUR settled down quickly after the previous day’s volatile move, trading in a tight 1.1187/1.1234 range. Indicators are mostly flat and further listless trading is expected from here, likely within a 1.1180/1.1230 range”.

“EUR spent another day going nowhere and at this stage, there is no pre-indication that the current neutral phase is about to end soon. In other words, the expected sideway trading range of 1.1120/1.1290 that was first highlighted about 2 weeks ago is still intact”.