17 Nov 2014
EUR recovers - UOB
FXStreet (Barcelona) - The Research team at UOB Group see a recovery ahead in EUR/USD towards 1.2615 followed by 1.2735.
Key Quotes
"The two-week long bearish phase has likely ended with the move above 1.2520 last Friday. Not only has Daily MACD moved back into positive territory, oversold Weekly charts warn of a more significant recovery."
"The target for the next 1 to 2 weeks is 1.2615 followed by the middle of the Daily Envelope at 1.2735."
"Only a daily close back below 1.2400 would indicate that the bullish view is wrong."
Key Quotes
"The two-week long bearish phase has likely ended with the move above 1.2520 last Friday. Not only has Daily MACD moved back into positive territory, oversold Weekly charts warn of a more significant recovery."
"The target for the next 1 to 2 weeks is 1.2615 followed by the middle of the Daily Envelope at 1.2735."
"Only a daily close back below 1.2400 would indicate that the bullish view is wrong."