eFX-Plus Major Bank UOB

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UOB

Currency Pair EUR/USD
Long from 1.0900
Target 1.1000
Stop/Loss 1.0830
Floating (pips) +8
Mkt Price (8:54:21 AM) 1.0908

Technical – Short-Term — [Open]

Rationale

UOB Research argues that EUR/USD surge that easily took out the Monday’s peak of 1.0935 has shifted the outlook for EUR to bullish. “The target is for a move towards the declining weekly trend-line which is currently just above 1.1000. In order to maintain the impulsive momentum, any pull-back should not move back below 1.0830,” UOB adds
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