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#1 12-02-2018 07:55:55

Admin & Trader
From: Paris - France
Registered: 21-12-2009
Posts: 2403

EUR/USD: the euro may pursue its consolidation in the very short-term

EUR/USD: the euro could pursue its consolidation in the very short term (UOB)

UOB believes that the EUR/USD should consolidate on the forex in the very short term.

"While the EUR/USD extended its rebound, the pair hasn't reached the 1.2300 threshold. The rapid decline from the 1.2287 peak tested solid support at 1.2200/05 before recording a new rally (trough at 1.2204).

The tone has improved somewhat but it is too early to anticipate a sustained increase.

The EUR/USD should consolidate for the time being, with a possible range at 1.2220/1.2300.

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



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