The present value actions are probably a part of a 1.1610/1.1670 vary buying and selling section. Within the longer run, Euro (EUR) is prone to commerce with an upward bias; it’s unclear for now if it could attain 1.1720, UOB Group’s FX analysts Quek Ser Leang and Peter Chia observe.
Value actions are probably a part of a 1.1610/1.1670 vary
24-HOUR VIEW: “EUR rose to a excessive of 1.1698 final Thursday. On Friday, when EUR was at 1.1665, we indicated that it ‘could retest, and doubtlessly edge above 1.1700.’ Our expectations didn’t materialise, as EUR traded in a comparatively quiet method between 1.1628 and 1.1679, earlier than closing at 1.1639 (-0.22%). The present value actions are probably a part of a variety buying and selling section, most certainly between 1.1610 and 1.1670.”
1-3 WEEKS VIEW: “In our newest narrative from final Thursday (07 Aug, spot at 1.1655), we highlighted that EUR ‘is prone to commerce with an upward bias, however it’s unclear for now if it could attain 1.1720.’ We’ll preserve the identical view so long as the ‘robust assist’ at 1.1585 (no change in ‘robust assist’ stage) will not be breached.”
