EUR/USD Bullish Above 1.1250 – UOB
In opinion of the research team at UOB Group, the pair’s outlook will remain on the bullish side while above 1.1250.
“While further EUR strength would not be surprising in the days ahead, the sharp rally from Friday is extremely overextended and a sustained move above 1.1420 appears unlikely, at least for today”.
“While the sharp break higher in EUR has shifted the outlook to bullish from neutral, it appears that we may have seen a chunk of the rally. That said, as long as 1.1250 is not taken out in the days ahead, further advance to 1.1400, 1.1450 is still a distinct possibility”.