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#1 03-12-2018 09:29:04

johnedward
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From: Paris - France
Registered: 21-12-2009
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EUR/USD: it's too soon to expect a solid rebound of the euro (UOB)

EUR/USD: it's too soon to expect a solid rebound of the euro on the forex (UOB)

     

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


UOB believes that the EUR/USD could still remain locked into its current consolidation range.

"The 1.1400 threshold remains solid and the EUR/USD once again failed to break through this level on Friday (peaks at 1.1400 on Friday and at 1.1401 on Thursday).

The ensuing decline broke through key support at 1.1315, indicating that recent upward pressures have eased (1.1302 trough on Friday).

Despite the strong open, it is too early to anticipate a strong rebound.

Generally speaking, the EUR/USD short-term trough has not materialised, and the pair is still locked into its current consolidation range.
"


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

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