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EUR/USD: Weakness from a week ago has stabilized – UOB Group

Euro (EUR) is likely to trade in a 1.1525/1.1580 range. In the longer run, weakness from a week ago has stabilized; EUR is likely to trade in a range of 1.1485/1.1610 for the time being, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

🔗 Source

💡 DMK Insight

The Euro’s current range of 1.1525 to 1.1580 signals a cautious market, and here’s why that matters: With the EUR stabilizing after last week’s weakness, traders should keep an eye on the broader economic indicators, especially any shifts in ECB policy or U.S. economic data that could influence the Euro’s trajectory. A breakout above 1.1580 could signal renewed bullish momentum, while a drop below 1.1525 might trigger selling pressure. This range trading could attract both day traders looking for quick profits and swing traders aiming for larger moves. Additionally, watch for correlated movements in the DXY index, as a stronger dollar could pressure the Euro lower. The real story is that while the Euro has found some footing, volatility could still emerge from geopolitical tensions or unexpected economic releases. For now, keep your charts updated and monitor these key levels closely; a decisive move could set the tone for the next few weeks.

📮 Takeaway

Watch the EUR closely around 1.1525 and 1.1580; a breakout could lead to significant trading opportunities in the coming days.

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