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#1 06-12-2017 11:08:15

Admin & Trader
From: Paris - France
Registered: 21-12-2009
Posts: 2255

UOB's short-term targets on the major pairs

UOB's short-term targets on the major pairs

Below are the UOB's strategies for the EUR/USD, GBP/USD and USD/JPY pairs:

EUR/USD: (Neutral) it is too early to anticipate an acceleration of the rise. The euro spent another day going nowhere on Tuesday. But the underlying current is on the rise and we could soon see a new test of 1.1960. But for now, we do not think the pair can go above 1.1960. Only a return below 1.18 would mean that the bull pressure has stopped.

GBP/USD (Bullish) We have been targeting 1.3660 since 17 November.

The GBP hit a high of 1.3550 last Friday. The strong resistance at 1.3570 remains "virgin" territory. A clear break of 1.3570 would bring the 1.3660 threshold back into focus. Only a return below 1.3390 would indicate that we have formed a top.

USD/JPY: (Neutral) The underlying current is still on the rise. Only a clear break of 113.15 would suggest a return towards 113.70.

"Anything worth having is worth going for - all the way." - J.R. Ewing



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