Wednesday, November 18, 2015

EUR/USD: don't get greedy - UOB

FXStreet (Guatemala) - Analysts at UOB suggest expectations beyond 1.0600 in EUR/USD might be too much to hold out for.

Key Quotes:

"While the bearish phase that started earlier this month is still intact, the current movement is quickly approaching oversold and the next major support at 1.0600 would not be easy to crack. In other words, those who are short may likely to book some profit near to 1.0600. Stop-loss remains unchanged at 1.0840 even though 1.0770 is already a strong short-term resistance."
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