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#1 03-09-2018 09:24:03

johnedward
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From: Paris - France
Registered: 21-12-2009
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EUR/USD: the euro has potentially recorded a short-term top (UOB)

EUR/USD: the euro has potentially recorded a short-term top (UOB)

     

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


UOB notes that the EUR/USD could correct itself lower in the short term.

"Recent upside pressures eased as the EUR/USD posted a surprise correction on Friday and broke key support at 1.1590.

We indicated that a breakout of 1.1590 would suggest that a short-term top is in place.

In other words, we do not think that the EUR/USD will rise above the 1.1733 peak during the week.

The weakening tone suggests that the EUR/USD could slide lower, but at this point we see any decline as part of a consolidation range and not the beginning of a sustained decline.
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"Anything worth having is worth going for - all the way." - J.R. Ewing

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