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#1 02-10-2018 11:14:54

johnedward
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From: Paris - France
Registered: 21-12-2009
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EUR/USD: the euro will likely continue to back down on the forex (UOB)

EUR/USD: the euro will likely continue to back down on the forex (UOB)

     

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


UOB believes that the EUR/USD will likely continue to fall back on the forex.

"The EUR/USD broke under last week's trough at 1.1566.

While it is too early to anticipate a sustained rebound, the combination of oversold conditions and momentum loss suggest limited risks for a sharp drop.

The EUR/USD should continue to fall, but the odds of a break through major support at 1.1530 are not high.

A resistance level is at 1.1605, followed by 1.1630.
"


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

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