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EUR/USD bullish above 1.1005/10 – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    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”.
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