6 Dec 2013
Flash: EUR/USD positive outlook remains - UOB Group
FXstreet.com (Barcelona) - Quek Ser Leang, Market Strategist at UOB Group comments that there is no change in the positive EUR/USD outlook, and pivotal resistance sits at 1.3740 now.
Key Quotes
“A break of 1.3650 will shift the focus to 1.3740.”
“This is a pivotal resistant as a break above this level will increase the probability of a move towards the year’s high at 1.3833 and possibly towards 1.4000 in the months ahead.”
“Otherwise, it could mark the end of the up-move from the 1.3295 low.”
“In the meanwhile, the bullish outlook is still intact but in order to maintain the current momentum, any short-term pullback has to stay above the immediate support at 1.3520.”
Key Quotes
“A break of 1.3650 will shift the focus to 1.3740.”
“This is a pivotal resistant as a break above this level will increase the probability of a move towards the year’s high at 1.3833 and possibly towards 1.4000 in the months ahead.”
“Otherwise, it could mark the end of the up-move from the 1.3295 low.”
“In the meanwhile, the bullish outlook is still intact but in order to maintain the current momentum, any short-term pullback has to stay above the immediate support at 1.3520.”