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3 Mar 2015
What’s the sentiment around EUR/USD today? – Commerzbank and UOB Group
FXStreet (Edinburgh) - EUR/USD remains within its range during the first half of the week, while markets get ready for the ECB meeting on Thursday.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, “We continue to view the chart in a negative light and this leaves the market under pressure with attention on the 1.1098 recent low. The market is directly offered below the near term resistance line at 1.1394”.
In addition, analysts at UOB Group suggested, “Despite the recovery, the undertone still appears to be negative but patchy downward momentum suggests a slow drift lower from here. Allow for a move to 1.1210 but 1.1245 is expected to cap for a move lower to 1.1155”.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, “We continue to view the chart in a negative light and this leaves the market under pressure with attention on the 1.1098 recent low. The market is directly offered below the near term resistance line at 1.1394”.
In addition, analysts at UOB Group suggested, “Despite the recovery, the undertone still appears to be negative but patchy downward momentum suggests a slow drift lower from here. Allow for a move to 1.1210 but 1.1245 is expected to cap for a move lower to 1.1155”.