EUR/USD Price Analysis: A drop to the 1.0630 region is not ruled out.

EUR/USD resumes the downside following Friday’s tops.A deeper correction could revisit the 1.0630 zone.EUR/USD adds to Friday’s marked pullback and drops to the 1.0680 area on Monday. The pair remains well under pressure and the continuation of the selling bias should put a potential test of the May low at 1.0635 (May 31) back onContinue reading “EUR/USD Price Analysis: A drop to the 1.0630 region is not ruled out.”

EUR/USD: A breakdown of 1.0650 appears unlikely.

UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang note there is still scope for EUR/USD to retreat further in the near term. Key Quotes 24-hour view: “After EUR dropped to 1.0700 last Friday and rebounded, we noted yesterday that ‘downward pressure has eased and EUR is unlikely to weaken much further’.Continue reading “EUR/USD: A breakdown of 1.0650 appears unlikely.”

GBP/USD reverses part of the recent weakness and revisits 1.2370.

GBP/USD adds to Friday’s gains and retests the 1.2370/75 band.The greenback trades without direction near 104.20/30. Markets’ attention is expected to be on Friday’s US Payrolls.Despite the broad-based range bound theme in the global markets, GBP/USD manages to gather further upside impulse and revisit the 1.2370 region on Monday. GBP/USD looks at USD, risk trends.GBP/USDContinue reading “GBP/USD reverses part of the recent weakness and revisits 1.2370.”

EUR/USD remains under pressure and close to 1.0700.

The breach of 1.0700 could pave the way for a sustained drop.EUR/USD keeps the bearish note well in place and keeps the trade near the key 1.0700 zone on Monday. The ongoing bearish development could force the pair to break below the 1.0700 region and thus expose a deeper pullback to, initially, the March lowContinue reading “EUR/USD remains under pressure and close to 1.0700.”