EUR/USD: UOB doubts euro climb will last, but nevertheless remains long, targeting 1.1095

In a note published this morning, UOB issued a warning against long EUR/USD positions:

"The upward momentum is not very strong and those who are positioned on a buy trade should take their profits at 1.1095. We also adjusted our stop loss from 1.0795 to 1.0880.

Only a drop back under 1.0965 would indicate that the upward pressure has gone.

However, we maintain our long position from 1.0935, with a stop at 1.0880 and a target at 1.1095.