EUR/USD: the euro's bearish phase isn't done yet (UOB)

UOB believes that the EUR/USD's downtrend on the forex isn't ready to end yet.

"The EUR/USD has exceeded our bearish target of 1.1960 with a low at 1.1936.

A more clear breakout through 1.1960 would pave the way for the annual low at 1.1915.

The bearish momentum is still pretty solid, and a clear breakout of 1.1915 would turn our attention to 1.1850, with an intermediate support level at 1.1900.

Overall, the current downturn isn't ready to end at this point."