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EUR/USD sideways range 1.0810/05 expected - UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Instead of extending higher, EUR topped out at 1.0968. The current movement is likely part of a broader consolidation phase and sideway trading is likely. Expected range; 1.0810/1.0905.

    Key Quotes:

    "The sharp drop suggests that the 1.0968 high could be the extent of the corrective rebound in EUR (1.0990/95 resistance not tested).

    However, the short-term weakness is viewed as part of a broader consolidation range and the downside risk appears to be limited. To put it another way, there is no change to the current neutral outlook for this pair."
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