22 Jul 2015
EUR/USD bearish view maintained - UOB
FXStreet (Guatemala) - Analysts at UOB Group explained their one to three week outlook for EUR/USD.
Key Quotes:
"The pace and the extent of the rebound from the strong 1.0805/10 support do not bode well for our current bearish EUR view."
"At this stage, we consider the up-move as part of a corrective recovery and as long as 1.1035 is not taken out, we will maintain our view. That said, EUR has to move back below 1.0870/75 in the next couple of days or the risk of 1.0805/10 being an interim low will increase rapidly."
Key Quotes:
"The pace and the extent of the rebound from the strong 1.0805/10 support do not bode well for our current bearish EUR view."
"At this stage, we consider the up-move as part of a corrective recovery and as long as 1.1035 is not taken out, we will maintain our view. That said, EUR has to move back below 1.0870/75 in the next couple of days or the risk of 1.0805/10 being an interim low will increase rapidly."