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28 May 2015
EUR/USD attempting to form a base? – UOB Group
FXStreet (Edinburgh) - Analysts at UOB Group slipped the possibility that EUR/USD might be forming a base.
Key Quotes
“The downside target indicated at 1.0835/40 yesterday was exceeded with an overnight low of 1.0818”.
“Waning downward momentum coupled with the swift rebound from the low suggests that this pair is trying to form a base for a stronger recovery”.
“For today, allow for a dip to 1.0845/50 but 1.0810 is expected to hold for a move to 1.0950”.
Key Quotes
“The downside target indicated at 1.0835/40 yesterday was exceeded with an overnight low of 1.0818”.
“Waning downward momentum coupled with the swift rebound from the low suggests that this pair is trying to form a base for a stronger recovery”.
“For today, allow for a dip to 1.0845/50 but 1.0810 is expected to hold for a move to 1.0950”.