EUR/USD: Expected to trade sideways between 1.1590 and 1.1665 – UOB Group

Source Fxstreet

Euro (EUR) is expected to trade sideways between 1.1590 and 1.1665 against US Dollar (USD). In the longer run, EUR weakness appears to have stabilised; for the time being, it is likely to consolidate in a range of 1.1550/1.1720, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

EUR weakness appears to have stabilised

24-HOUR VIEW: "When EUR was at 1.1615 in the early Asian session last Friday, we expected EUR to 'trade in a sideways range of 1.1585/1.1655.' The subsequent price action did not turn as we expected. EUR rose to a high of 1.1671 and then pulled back to close at 1.1625 (+0.26%). The advance did not result in a significant increase in upward momentum. Today, we continue to expect sideways trading, likely between 1.1590 and 1.1665."

1-3 WEEKS VIEW: "Our update from last Thursday (17 Jul, spot at 1.1630) remains valid. As highlighted, the recent ''EUR weakness has stabilised.' For the time being, we expect EUR to “consolidate in a range of 1.1550/1.1720.”

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold Price Forecast: XAU/USD trades with mild gains near $3,350 on tariff uncertaintyThe Gold price ( XAU/USD) trades with mild gains near $3,350 during the early Asian session on Monday.
Author  FXStreet
13 hours ago
The Gold price ( XAU/USD) trades with mild gains near $3,350 during the early Asian session on Monday.
placeholder
EUR/USD inches lower to near 1.1600 as traders adopt caution on US-EU trade uncertaintyEUR/USD edges lower after registering gains in the previous session, trading around 1.1620 during the Asian hours on Monday.
Author  FXStreet
11 hours ago
EUR/USD edges lower after registering gains in the previous session, trading around 1.1620 during the Asian hours on Monday.
placeholder
House Passes Major Bills During ‘Crypto Week,’ But Significant Changes May Take TimeDespite the excitement surrounding what President Donald Trump has dubbed “Crypto Week,” experts caution against premature celebrations in the cryptocurrency space.
Author  NewsBTC
11 hours ago
Despite the excitement surrounding what President Donald Trump has dubbed “Crypto Week,” experts caution against premature celebrations in the cryptocurrency space.
placeholder
Japanese Yen surrenders modest intraday gains amid domestic political uncertaintyThe Japanese Yen (JPY) attracts fresh sellers following a modest bullish gap opening at the start of a new week amid the domestic political uncertainty.
Author  FXStreet
11 hours ago
The Japanese Yen (JPY) attracts fresh sellers following a modest bullish gap opening at the start of a new week amid the domestic political uncertainty.
placeholder
Gold price remains confined in a multi-week-old range as bulls seem reluctantGold price (XAU/USD) trades with a positive bias for the second consecutive day on Monday, though it lacks bullish conviction and remains confined in a multi-week-old trading range.
Author  FXStreet
8 hours ago
Gold price (XAU/USD) trades with a positive bias for the second consecutive day on Monday, though it lacks bullish conviction and remains confined in a multi-week-old trading range.
Related Instrument
goTop
quote