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5 May 2016
EUR/USD keeps the bullish stance – UOB
According to analysts at UOB Group, the pair’s perspective is still biased toward the bullish side in the next 1-3 weeks.
Key Quotes
“While the stop-loss for our bullish view at 1.1400 is intact, upward momentum continues to deteriorate and the risk of a short-term top will continue to increase unless EUR can move and stay above 1.1550 within these few days”.
“To put it another way, EUR has to move higher soon as prolonged consolidation will lead to further loss in momentum”.
Key Quotes
“While the stop-loss for our bullish view at 1.1400 is intact, upward momentum continues to deteriorate and the risk of a short-term top will continue to increase unless EUR can move and stay above 1.1550 within these few days”.
“To put it another way, EUR has to move higher soon as prolonged consolidation will lead to further loss in momentum”.