Euro: Defined range keeps trading sideways against US Dollar – UOB

EUR/USD is expected to trade between 1.1185 and 1.1230 in the near term. United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note that the pair still lacks a clear directional signal, with trading confined to a tighter range than anticipated. For the coming weeks, they retain their 1.1170–1.1270 range-trading outlook, while seeing potential for a corrective recovery above 1.1280.

1.1185–1.1230: EUR/USD Faces Narrow Near-Term Range

"24-HOUR VIEW: Last Friday, we indicated that EUR “could trade between 1.1185 and 1.1250.” EUR then traded within a narrower range of 1.1183/1.1226. The price action provides no fresh clues. Today, EUR could trade between 1.1185 and 1.1230."

"1-3 WEEKS VIEW: We have been expecting EUR to trade in a range since the middle of the month. In our most recent narrative from last Thursday (22 Oct, spot at 1.1230), we stated that “the price movements since then still appear to be part of a rangetrading phase, but a narrower 1.1170/1.1270 range is likely sufficient to contain EUR for now.” We continue to hold the same view. "

(An editor reviewed this article, which was produced with assistance from an Artificial Intelligence tool. Learn more.)