EUR/USD shifted to neutral from bearish

14 May, 2018

The pair’s stance has now shifted to neutral from bearish in the short term horizon, according FX Strategists at UOB Group. 24-hour view: “We expected a higher EUR last Friday but were of the view that “a clear break of the strong 1.1960 level seems unlikely”. EUR managed to crack this resistance to hit a high of 1.1968 before easing off. The undertone still appears to be positive and there is room for EUR to probe the next resistance at 1.1990. At this stage, a sustained move above this level is not expected. Support is at 1.1925 but the stronger level is at 1.1890”.

Next 1-3 weeks: “In last Friday’s update (11 May, spot at 1.1920), we highlighted “the diminished odds for further EUR weakness” and the subsequent break of the ‘stop-loss’ at 1.1960 confirms that the bearish phase that started earlier this month has ended. The outlook for EUR is deemed as neutral now and last week’s 1.1821 low is viewed as a short-term bottom. To look at it another way, the decline that started in mid-April from a high of 1.2413 has likely found a base at 1.1821 and from here, we believe EUR has moved into a consolidation/correction phase. That said, the immediate bias is tilted to the upside even though any advance is viewed as part of a 1.1850/1.2050 correction/consolidation phase and not the start of a bullish reversal”.


Source   Presented by HYCM
Euro declines on the back of risk aversion30 Jun, 2020  

On Monday the 29th of June, trading on the euro closed up. The EURUSD pair rose by 0.22% to reach 1.1241. Trading on the US stock market closed up...

EURUSD holding steady below the balance line25 Jun, 2020  

Considering that our pair has dropped from 1.1349 to 1.1236 without any pullbacks, the current momentum should be enough to take it to the 112th degree...

EURUSD: bulls planning to test 1.130023 Jun, 2020  

On Monday the 22nd of June, trading on the euro closed up. The single currency rose to 1.1270 against the dollar. Investors seemed to have forgotten about...


Euro struggles against Dollar; Gold wobbles18 Jun, 2020  

The Euro remains trapped in a fierce battle against an unyielding Dollar with prices trading marginally below 1.1250 as of writing...

EURUSD: continued flat to around 1.130010 Jun, 2020  

The EURUSD pair was held up by the yen, which rose by 1.04% to reach 108.43 against the dollar. The yen is considered a safe haven asset, so investors...

EURUSD: markets await Lagarde speech5 Jun, 2020  

Trader attention is turned towards the ECB meeting and the following press conference with Christine Lagarde. Interest rates are expected to be maintained...


EURUSD: continued growth expected21 May, 2020  

The promising results of COVID-19 vaccine trials have reduced demand for the safe haven assets. The majors are trading up against the dollar...

EURUSD: expected rebound from the lower line14 May, 2020  

The pair rose to the balance line as expected. At the time of writing, the euro is trading at 1.0807. The majors are currently trading down...

Bulls trying to strengthen the upwards impulse11 May, 2020  

Before the recovery, we got a double bullish divergence model. This should see a bounce to 1.0926. If we assume that we're going to get a flat, then this is the model...