FXStreet (Edinburgh) - Strategists at the Swiss lender UBS remain bearish on the pair and still see any upside as a selling opportunity.



Key Quotes



“We took profit today on our short EURUSD trade recommendation, but remains bearish the pair and expect further downside in due course”.



“The current recovery could reach 1.3417, the 38.2% retracement of the july-August sell off, but the long term weekly bearish trend suggests that this point may not be achieved”.



“As such, we recommend working offers at 1.3330, and then at 1.3400, to get short again. Our target will be 1.3045, the 50% retracement, stop at 1.3530, just above the 62% retracement of the Juy-August decline”.



“If the anticipated recovery falls to materialize and the pair crosses below 1.3249 first instead, that would also be a sell signal”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR/USD falls below 1.1050; What's next?

  2. Forex News

    Greenback stands victorious - FXStreet

  3. Forex News

    July's outlook for Europe, weak EUR, GBP and CHF - Scotiabank

  4. Forex News

    EUR/USD remains sub-1.1100

  5. Forex News

    A No vote and a Grexit: global banking Crisis - BBH

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!