EUR/USD: UOB says trend remains bullish, recommends that traders take their profits

UOB still believes that the trend of the EUR/USD remains on the upside on the forex, but advises traders to take profits at current levels.

"Friday's close last week indicates that the chances for a move towards 1.1430 have decreased. Those who are buyers should look to take partial profits around current levels. A move under 1.1240 would indicate that a short term top is in place (and the beginning of a deeper decline to 1.1190)."