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#1 06-08-2018 09:48:45

johnedward
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From: Paris - France
Registered: 21-12-2009
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EUR/USD: the euro remains oriented towards the downside but...

EUR/USD: the euro remains oriented towards the downside but could fail to sink further today (UOB)

     

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


UOB notes that the EUR/USD bias remains to the downside.

"The EUR/USD fell back to last month's low of 1.1572, but did not have enough momentum to test the major support level at 1.1525.

Friday's weak close suggests that the underlying tone is still heavy and that the immediate bias is downward.

However, in view of the lack of momentum, a clear break under the major support level at 1.1525 seems unlikely (minor support is at 1.1550).

Only a break above 1.1600 would indicate that bearish pressures have eased.
"


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

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