EUR/USD: Rise, decline or consolidation - 3 major banks have diverging short-term opinions

Three banks gave their opinion this morning on the EUR/USD, with 3 different opinions: Citi is bullish, Barclays is bearish, and UOB is neutral:

Citi: bullish bias towards 1.18

"The EUR/USD confirmed a double dip by closing above 1.1460 last Wednesday, signaling an upward movement towards 1.18. The downtrend should remain limited by the MA500 days at 1.1210 and a trendline now at 1.1206.

Although there is a resistance level at 1.1846 , there is a possibility that the EUR/USD will rise to the MA200 months at 1.2220; in this case, it will be an ideal way to position oneself for selling given our forecast for a fall to parity and below in 2016 (or 2017)."

Barclays: bearish bias towards 1.1105/1.1085

"The movement below 1.1335 encourages our bearish vision. Our initial target is at 1.1260. A movement under 1.1260 would pave the way to a target area at ​​1.1105/1.1085."

UOB: neutral bias in the 1.13 to 1.15 range

"EUR tested the 1.13 support level yesterday with a low of 1.1304. The downward trend clearly lacks momentum and does not appear to be part of a sustained downward trend. In other words, our vision remains neutral in a range between 1.13 to 1.15 for now."