In opinion of FX Strategists at UOB Group, EUR/USD is seen under pressure while below the 1.1980 level in the next weeks. Key Quotes 24-hour view: “Yesterday, we were of the view that the rebound in EUR ‘has room to extend but any advance is likely limited to a test of 1.1940’. While EUR advanced
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The markets are rather quiet so far today with slow news flow. Major currency pairs and crosses are stuck inside yesterday’s range, in consolidative trading. Other markets are also mixed, with some hope for DOW to hit new records, but other indices are weak. US consumer inflation data provides no special inspiration to traders. Focuses
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Gold stays depressed around intraday low, trims biggest gains since January. Receding strength of bearish MACD, sustained trading beyond 200-SMA favor buyers. Buyers need to stay cautious despite confirming the bullish chart pattern unless crossing $1,765. Gold remains pressured around $1,713, down 0.18% intraday, ahead of Wednesday’s European session. Although the bullion fades upside momentum
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