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28 Jan 2014
Flash: EUR/USD to target 1.3820? - UOB Group
FXstreet.com (Barcelona) - Quek Ser Leang, Market Strategist at UOB Group notes that the EUR/USD target for this week is at 1.3760 followed by 1.3820.
Key Quotes
“Despite the lack of follow through after the break of 1.3725 last Friday, the outlook still appears positive for the rest of the week.”
“Expect short-term pullback to hold above 1.3620 but only a break below the key support at 1.3550 will indicate that the bullish view is wrong. Otherwise, the target for this week is at 1.3760 followed by 1.3820 (and possibly a move towards last year’s high 1.3894 further out).”
“Supports: 1.3620, 1.3550. Resistants: 1.3760, 1.3820.”
Key Quotes
“Despite the lack of follow through after the break of 1.3725 last Friday, the outlook still appears positive for the rest of the week.”
“Expect short-term pullback to hold above 1.3620 but only a break below the key support at 1.3550 will indicate that the bullish view is wrong. Otherwise, the target for this week is at 1.3760 followed by 1.3820 (and possibly a move towards last year’s high 1.3894 further out).”
“Supports: 1.3620, 1.3550. Resistants: 1.3760, 1.3820.”