The current price movements are likely part of a 1.1610/1.1670 range trading phase. In the longer run, Euro (EUR) is likely to trade with an upward bias; it is unclear for now if it can reach 1.1720, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Price movements are likely part of a 1.1610/1.1670 range
24-HOUR VIEW: "EUR rose to a high of 1.1698 last Thursday. On Friday, when EUR was at 1.1665, we indicated that it 'may retest, and potentially edge above 1.1700.' Our expectations did not materialise, as EUR traded in a relatively quiet manner between 1.1628 and 1.1679, before closing at 1.1639 (-0.22%). The current price movements are likely part of a range trading phase, most likely between 1.1610 and 1.1670."
1-3 WEEKS VIEW: "In our latest narrative from last Thursday (07 Aug, spot at 1.1655), we highlighted that EUR 'is likely to trade with an upward bias, but it is unclear for now if it can reach 1.1720.' We will maintain the same view as long as the ‘strong support’ at 1.1585 (no change in ‘strong support’ level) is not breached."
Related Articles
U.S. Stock Strategy: The Rapid Development of AI Signals a Promising Future
TradingKey - Since Trump announced a 90-day suspension of the "reciprocal tariffs" imposed on certain countries on 9 April this year, all three major U.S. stock indices have recorded significant gains. Looking ahead, against the backdrop of easing global trade frictions.
Size Matters? Royal Caribbean Cruises Don’t Think So
TradingKey - Royal Caribbean Group (RCL), as the world’s second-largest cruise operator, demonstrates industry-leading recovery and competitive strength in the post-pandemic era through robust revenue growth (18.6% increase in 2024, with net income surging 70.6%), exceptional operational efficiency
China July Inflation Commentary: CPI Exceeds Expectations
TradingKey - On 9 August 2025, China's National Bureau of Statistics released inflation data for July. The Consumer Price Index (CPI) rose by 0.4% month-on-month, reversing the previous month's 0.1% decline, while remaining unchanged year-on-year. Core CPI increased by 0.8% year-on-year.
U.S. CPI Preview: Bullish Outlook for U.S. Stocks Continues
TradingKey - On 12 August 2025, the U.S. will release its July CPI data. Market consensus forecasts a year-over-year headline CPI increase of 2.8% and a core CPI rise of 3%, both up 0.1 percentage points from June. We align with these widely held market expectations. Breaking it down by category...
Ethereum Price Prediction: Will ETH Extend the Rally? What’s the Future Trend?
Ethereum's impressive 2025 rally has been largely fueled by inflows from spot ETFs and a surge in institutional holdings, signaling growing confidence in its role as a core asset in the crypto market. However, to officially confirm the start of a new bull cycle, ETH must break above the critical $4,
