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EUR/USD bearish, albeit downside limited – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 2, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The research team at UOB Group remains bearish on the pair although further downside appears limited in the next weeks.

    Key Quotes

    “As mentioned yesterday, oversold conditions suggest a slower pace of decline and the major 1.0810 support is likely out of reach”.

    “Downward momentum continues to wane with the rebound from the overnight low of 1.0832 but it is too early to expect a sustained recovery”.

    “While we remain bearish EUR, the price action is in line with our expectation wherein we expect limited downside potential”.

    “This pair is struggling to move lower and those who are shorts may want to take partial profit at 1.0810. Stop-loss is adjusted lower to 1.0965 from 1.1030”.
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