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#1 13-12-2018 11:10:49

Admin & Trader
From: Paris - France
Registered: 21-12-2009
Posts: 2801

EUR/USD: a bearish bias remains dominant within current consolidation

EUR/USD: a bearish bias remains dominant within the current consolidation range (UOB)

UOB maintains a bearish bias within the current consolidation range, despite the EUR/USD's rebound.

Intraday EUR/USD analysis

"The EUR/USD rebounded after peaking at 1.1311. The rebound lacks momentum and is considered part of the broad consolidation range, not the beginning of a sustained bullish shift. That being said, it is possible that the EUR/USD will rise above the peak at 1.1388, but any increase will be in the 1.1340/1.1410 range."

Short term EUR/USD analysis

"The EUR/USD has rebounded and the bottom of the 1.1300/1.1440 consolidation range remains intact (low at 1.1311). Despite the rebound, the underlying tone remains weak, and we continue to see chances the likelihood that the euro drops below 1.1300. However, as mentioned this week, a break of the next support level at 1.1265 seems unlikely."

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



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