6 Jan 2016
EUR/USD: 1.0640 on the cards in bear trend - UOB
FXStreet (Guatemala) - Analysts at UOB Group are bearish EUR/USD still.
Key Quotes:
Only a break above 1.0885 would indicate that the
current bearish EUR phase has ended.
While the 1.0750 bearish target was exceeded with a low of1.0709, oversold short-term conditions suggests that any further weakness is not going to be a‘straight line’.
Overall, only a break of 1.0885 would indicate that the current bearish phase has ended. Otherwise, a move to 1.0640 will not be surprising but it will probably be seen later part of this week or early next week."
Key Quotes:
Only a break above 1.0885 would indicate that the
current bearish EUR phase has ended.
While the 1.0750 bearish target was exceeded with a low of1.0709, oversold short-term conditions suggests that any further weakness is not going to be a‘straight line’.
Overall, only a break of 1.0885 would indicate that the current bearish phase has ended. Otherwise, a move to 1.0640 will not be surprising but it will probably be seen later part of this week or early next week."