EUR/USD could still advance to 1.0945 – UOB

Pablo Piovano FXStreet

The continuation of the upside momentum could lift EUR/USD to the 1.0945 level in the near term, comment Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.

Key Quotes

24-hour view: We noted yesterday that “the current price action is likely part of a consolidation phase,” and we expected EUR to trade in a range between 1.0815 and 1.0880. While EUR rose to a high of 1.0895 in NY trade, it pulled back quickly to end the day little changed at 1.0850 (+0.04%). The price action still appears to be consolidative, and we continue to expect EUR to trade in a range, likely between 1.0820 and 1.0880.

Next 1-3 weeks: Our update from Wednesday (15 Nov, spot at 1.0880) still stands. As highlighted, further EUR strength appears likely, and the level to monitor is 1.0945. Overall, only a breach of 1.0770 (no change in ‘strong support’ level) would indicate that EUR is not strengthening further.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD: Downward-sloping 20-day EMA reflects bearish tone, ECB policy awaited

The EUR/USD pair trades slightly higher to near 1.1550 during the Asian trading session on Thursday. The major currency pair edges higher as the Euro gains ahead of the European Central Bank’s monetary policy announcement at 12:15 GMT.

GBP/USD nudges higher above 1.3350 despite rising Fed hike bets

The GBP/USD pair gathers strength to around 1.3385 during the Asian trading hours on Thursday. However, the potential upside might be limited amid rising expectations for higher-for-longer US interest rates. Markets might turn cautious later in the day ahead of the US Producer Price Index report.

$4000 at risk: Gold sellers refuse to give up amid hot US inflation, Mideast tensions

Gold pauses its recovery from seven-month lows of $4,024 in Wednesday’s Asian trading, after facing fresh offers above the $4,100 level. Gold sellers refuse to give up despite the continued hostilities in the Middle East.

Crypto Overview: Bitcoin consolidates above $60,000 – CRV, WLFI, XMR lead gains

The broader cryptocurrency market maintains risk-off sentiment as Bitcoin lingers above $62,000 at press time on Thursday. The mild recovery in BTC fails to lift the Fear and Greed Index, which at 15 continues to signal extreme fear among investors. Still, certain altcoins, Curve DAO, World Liberty Financial, and Monero, have emerged as top performers over the last 24 hours.

From sizzle to fizzle: Tech sinks as Oil puts the Fed tail back on the table

Wall Street was not hit by one punch. It was caught between three swinging doors at the same time: a renewed technology unwind, a fresh geopolitical oil bid, and a wave of equity supply that is starting to look less like capital formation and more like a liquidity test for the entire AI complex.

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.