EUR/USD Bullish, Looks to 1.1450 – UOB
The research team at UOB Group sees EUR/USD targeting the 1.1450 area in the near term.
“As mentioned yesterday, while short-term momentum does not appear to be very strong, the strong rally that started late last week appears incomplete”.
“The immediate target of 1.1400 was exceeded and the focus is on 1.1450 now”.
“Stoploss is adjusted higher to 1.1300 from 1.1250 even though 1.1360 is already a strong short-term support”.
“At this point, we are not advocating partial-profit taking as a clear break above 1.1450 would considerably increase the odds for further up-move towards 1.1495/00”.