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5 currency update from UOB

Discussion in 'Fundamental Analysis' started by ForexLive, Jul 25, 2016.

  1. ForexLive

    ForexLive Forum Member

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    United Overseas Bank with their latest weekly look at 5 pairs EUR/USD: Bearish, immediate target at 1.0905/10 with decent odd of extending to 1.0820. The daily closing below 1.0995 indicates that EUR has started on a move lower to 1.0905/10 (low on the day of Brexit) with decent odds of extending further to 1.0820 (low in early March). The bearish phase just started and in order to maintain the current momentum, any short-term rebound should not move back above 1.1040.

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