EUR/USD: the Expansion of the movement to 1,12 is possible — UOB

FXStreet — The UOB Group team of Analysts is of the opinion that the rally in the EUR/USD in the direction of 1,1200 expanded.

Important Quotes

«Yesterday we have told that a NY close above 1,1020/25 changes the Outlook for the EUR bullish and the immediate goal of the 1,1100.»

«The pace of the rally came as a surprise and the current rate of 1,1085 is not far from the 1,1100 (1,1097 at the time of the analysis). The strong impulsive dynamics of the rally indicates that the scope has increased to 1,1200.»

«Short-term Pullbacks Should be shallow and quickly reversed to fail, so that the current momentum is maintained. There is a drop below 1.1000 is needed to the formation of a signal of an intermediate high.»

** FXStreet News Editorial, FXStreet**

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