EUR/USD: UOB expects a range within 1.1850-1.1920 in the very short term

In an analysis released this morning, UOB updates its short-term forecasts for the EUR/USD pair.

Within the next 24 hours, the bank believes that the pair should consolidate between 1.1850 and 1.1920, following Friday's session, which confused traders with a post-NFP rise and then a reversal in light of the latest ISM (Institute for Supply Management) manufacturing data.

Within 1-3 weeks, the bank reminds us that it posted a neutral opinion on 31/08, and it continues to anticipate a range within 1.1770-1.1980.