16 Apr 2014
EUR/USD outlook to shift from bullish to neutral below 1.3780 - UOB
FXStreet (Bali) - The Market Strategy Team at UOB Group thinks that despite the outlook on EUR/USD is still bullish, inability to break back above 1.3880 would see 1.3780 exposed again.
Key Quotes
"While the outlook is still considered as bullish, the current consolidation has resulted in further loss of upward momentum. Unless EUR can move above 1.3880 today, the probability of a break below the key support at 1.3780 is very high. A move below this level would suggest that EUR has entered a period of neutral consolidation phase."
Key Quotes
"While the outlook is still considered as bullish, the current consolidation has resulted in further loss of upward momentum. Unless EUR can move above 1.3880 today, the probability of a break below the key support at 1.3780 is very high. A move below this level would suggest that EUR has entered a period of neutral consolidation phase."