EUR/USD: Upside potential remains – UOB Group

FXStreet Insights Team FXStreet

The UOB Group report by Quek Ser Leang and Lee Sue Ann suggests that the Euro is poised for further gains against the US Dollar, with a potential retest of 1.2080. As long as the Euro holds above 1.1950, the outlook remains positive, although a pullback is expected after reaching higher levels. The report emphasizes the strong upward momentum in the Euro's price action.

Positive outlook for Euro

"As long as EUR holds above 1.1950, it could retest 1.2080 before a pullback can be expected."

"Sharp spike higher is likely to fuel further EUR strength, potentially to 1.2150."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

EUR/USD keeps losses near 1.2000 as USD rebound ahead of Fed

EUR/USD is holding sizeable losses near 1.2000 in the European session on Wednesday. The pair retraces from a five-year high amid renewed US Dollar demand. All eyes will be on the US Federal Reserve interest rate decision due later on Wednesday.

GBP/USD stays in red near 1.3800, as focus shifts to Fed verdict

GBP/USD depreciates after four days of gains, trading around 1.3800 in European trading on Wednesday. The technical analysis of the daily chart suggests a potential bearish reversal amid a narrowing range, suggesting buyers are losing strength within the rising wedge pattern.

Gold record-setting rally extends ahead of Fed decision

Gold is continuing its record-printing spree early Wednesday, testing offers above the $5,200 level for the first time. Buyers refuse to pause heading into the US Federal Reserve policy announcements, due later in the day.

Avalanche holds near $12 as spot ETF debuts on Nasdaq lifts bullish sentiment

Avalanche price holds above $12 at the time of writing on Wednesday, after rebounding from the lower boundary of its horizontal parallel channel, signaling early signs of stabilization. The launch of Avalanche spot Exchange Traded Funds by VanEck this week on Nasdaq signals improving market sentiment. In addition, supportive on-chain and derivatives data for AVAX suggest a potential recovery if bullish momentum builds.

Four problems of the US Dollar

The US Dollar Index returned to last year's lower bound, which we had not seen since 2022. The drivers are investment portfolio diversification, concerns about the US economic growth slowdown, rumours of FX interventions and active selling by carry-traders.

Bitcoin Cash Price Forecast: Retail interest sparks in BCH amid reversal chances

Bitcoin Cash (BCH) is trading around $600 at press time on Wednesday, framing a potential double bottom reversal on the daily chart. The BCH token is witnessing renewed capital inflows into its futures contracts amid a positive funding rate cycle, signaling renewed investor interest.