Tuesday, September 5, 2017

EUR / USD (UOB): The Euro could still consolidate on Forex today :


UOB believes that EUR / USD should still consolidate today on Forex, before heading to the low end of its range over the next few days.

"EUR / USD moved in a narrow range between 1.1851 and 1.1920. The indicators are generally neutral, suggesting more consolidation, probably not breaking the range of the previous day.

We continue to view the current price action as part of a consolidation phase, and an evolution between 1.1770 and 1.1980 at very short term seems still probable. The next step could be a test of the low end of this range. "
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