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#1 01-08-2018 16:06:32

johnedward
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From: Paris - France
Registered: 21-12-2009
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EUR/USD: the euro's immediate bias points towards a decline (UOB)

EUR/USD: the euro's immediate bias points towards a decline (UOB)

     

http://www.forex-central.net/forum/userimages/logo-uob.gif


UOB believes that the EUR/USD is still bearish on the forex.

"The EUR/USD climbed to a peak at 1.1745 before quickly retreating. Recent upward pressure eased with the downturn and the current move is seen as part of a consolidation phase.

That being said, the immediate bias remains to the downside, but any decline should not fall significantly below the expected consolidation range at 1.1655/1.1720 (there is another strong support level at 1.1620).
"


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

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