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15 Jan 2015
EUR/USD may continue to grind towards 1.1640 – UOB
FXStreet (Barcelona) - According to Analysts at UOB Group, only a break above 1.1860 levels would indicate that a temporary low is in place for EUR/USD, or else the pair might continue lower towards 1.1640 levels.
Key Quotes
“Despite the break of 1.1750/55, EUR only managed to eke out a fresh low of 1.1728 before
rebounding. While downward momentum is clearly struggling now, only a clear break above the
trailing-stop at 1.1860 would suggest that a temporary low is in place. Otherwise, this pair could continue to grind lower towards the 2005 low of 1.1640.”
Key Quotes
“Despite the break of 1.1750/55, EUR only managed to eke out a fresh low of 1.1728 before
rebounding. While downward momentum is clearly struggling now, only a clear break above the
trailing-stop at 1.1860 would suggest that a temporary low is in place. Otherwise, this pair could continue to grind lower towards the 2005 low of 1.1640.”