EUR/USD: To trade in a relatively broad range - UOB Group

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EUR/USD: To trade in a relatively broad range - UOB Group

_{//stocks-investing.news-articles.net/content/202 .. trade-in-a-relatively-broad-range-uob-group.html}
^{Published in Stocks and Investing on Wednesday, November 27th 2024 at 20:01 GMT by Thomas Matters}

The Euro (EUR) is likely to trade in a relatively broad range, probably between 1.0435 and 1.0535. In the longer run, downward momentum appears to be slowing; the likelihood of EUR breaking below 1.0333 is decreasing, UOB Group's FX analysts Quek Ser Leang and Lee Sue Ann note.

The article from FXStreet discusses the EUR/USD currency pair's expected trading range as forecasted by UOB Group. According to UOB's analysis, EUR/USD is anticipated to trade within a relatively broad range in the near term. The pair has recently experienced a slight increase, but the momentum indicators suggest that the upward movement might be losing steam. UOB Group's analysts, including Lee Sue Ann and Quek Ser Leang, indicate that while there is no strong conviction for a sustained rise above 1.1000, the pair could still see some volatility. They expect the EUR/USD to fluctuate between 1.0870 and 1.1000 in the coming weeks, with a potential for a slight upward bias if it manages to break above 1.1000 convincingly. However, they also caution that a drop below 1.0870 would signal a weakening of the current trading range.

Read the Full FXStreet Article at [ https://www.fxstreet.com/news/eur-usd-to-trade-in-a-relatively-broad-range-uob-group-202411270835 ]

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