The outlook for the pair in the next 1-3 weeks remains constructive, according to the research team at UOB Group.

Key Quotes

“We are sticking to view wherein only a daily closing above 1.1005/10 would shift the current neutral EUR outlook to bullish (closing was 1.1000 last Friday)”.

“That said, the undertone for this pair is positive and the odds for a sustained up-move in the coming days are rather high especially if we continue to hold above 1.0900”.

The outlook for the pair in the next 1-3 weeks remains constructive, according to the research team at UOB Group…

(Market News Provided by FXstreet)

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The new week on the WSE starts quite calm, there was no major deviations at the beginning of our session on the futures market, which was more or less a copy of behavior of contracts on European indices. Futures contracts on the WIG20 index recorded a …

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The US dollar is trimming Friday’s losses across the board, courtesy of which the EUR/USD pair has dipped below its 50-DMA located at 1.0975.

Tests confluence of 10-DMA and 50% Fibo level

The pair fell to 1.0947 (confluence of 10-DMA and 50% Fibo of 1.0517-1.1376). The greenback is retracing losses it suffered due to weak wage growth figures released in the NY session on Friday.

As of now, the major European equities are trading moderately lower, despite which EUR is taking a hit. Moreover, dovish expectations surrounding Thursday’s ECB decision could be restricting demand for Euros. With no major data due for release, the spot is at the mercy of overall demand for the US dollars.

EUR/USD Technical Levels

The pair currently trades around 1.0950. The immediate support is seen at 1.0947 (confluence of 10-DMA and 50% Fibo of 1.0517-1.1376), under which the spot could drift lower to 100-DMA at 1.0925. On the other hand, A break above 1.0975 (50-DMA) could see prices re-test 1.0997 (daily high)-1.10 handle.

The US dollar is trimming Friday’s losses across the board, courtesy of which the EUR/USD pair has dipped below its 50-DMA located at 1.0975.

(Market News Provided by FXstreet)

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USDJPY – Down

The four-hours chart USDJPY. Pair hasn’t risen. Price is continuing to consolidate above the daily Supertrend line and the four-hours Supertrend line. The break through is possible. The first aim is main support level (0/8). If the price consolidates above (1/8) level this possibility will be canceled.

Trading decision: no

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GBPUSD – Flat

The four-hours chart GBPUSD. Pair has broken through the strongest system’s level (4/8). Now it is consolidating above this level. The main possibility is pair growth. Next aim for growth is on (6/8) level, it is the nearest important level which can have influence on price.

Trading decision: no

The four-hours chart GBPUSD. Pair has broken through the strongest system’s level (4/8). Now it is consolidating above this level. The main possibility is pair growth. Next aim for growth is on (6/8) level, it is the nearest important level which can have influence on price.

Trading decision: no

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EURUSD – Up The four-hours chart EURUSD. Pair has bounced from the four-hours Supertrend line and gone to intermediate resistance level (2/8). As a result, level has been broken through but it is early to speak about price consolidation above this l…

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