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EUR/USD: 1.0640 on the cards in bear trend - UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 6, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Guatemala) - Analysts at UOB Group are bearish EUR/USD still.

    Key Quotes:

    Only a break above 1.0885 would indicate that the
    current bearish EUR phase has ended.

    While the 1.0750 bearish target was exceeded with a low of1.0709, oversold short-term conditions suggests that any further weakness is not going to be a‘straight line’.

    Overall, only a break of 1.0885 would indicate that the current bearish phase has ended. Otherwise, a move to 1.0640 will not be surprising but it will probably be seen later part of this week or early next week."
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