EUR/USD: UOB says euro is losing strength, struggling to climb more

UOB remains bullish on the EUR/USD, but adds that the chances of observing a movement towards 1.1430 have substantially decreased.

"While the prospects of the EUR/USD are still bullish on the forex, prolonged consolidation under last Thursday's peak at 1.1365 caused a loss of momentum. Unless there is a clear and sharp movement above 1.1365 in the coming days, the chances of a move towards 1.1430 will continue to decline. The stop-loss at 1.1240 should remain in place for now although a break of 1.1265/70 would be a first signal that a short-term top is in place."