logo

Any decline could be limited to a test of 1.1185 – UOB Group

By: bitcoin ethereum news|2025/05/09 18:30:05
0
Share
copy
Further Euro (EUR) weakness is not ruled out vs US Dollar (USD); oversold conditions suggest any decline could be limited to a test of 1.1185. In the longer run, c in EUR toward 1.1145, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. Buildup in downward momentum indicates further decline 24-HOUR VIEW: “When EUR was at 1.1310 in early Asian trade yesterday, we pointed out ‘the bias for EUR is tilted to the downside.’ However, we highlighted that ‘as momentum is not strong, any decline is likely limited to a test of 1.1280.’ EUR then dipped below 1.1280, rebounded, before plummeting to a low of 1.1210 in the NY session. While further weakness is not ruled out, oversold conditions suggest any decline could be limited to a test of 1.1185. The next support at 1.1145 is likely out of reach for now. Resistance is at 1.1245; a breach of 1.1270 would suggest the weakness has stabilised.” 1-3 WEEKS VIEW: “In our latest narrative from Tuesday (06 May, spot at 1.1310), we highlighted that ‘the current price movements are likely part of a consolidation phase, and we expect EUR to trade between 1.1225 and 1.1410 for now.’ After trading sideways for a couple of days, EUR dropped below 1.1225 yesterday (low was 1.1210). The increase in downward momentum indicates further declines toward 1.1145. To maintain the buildup in momentum, EUR must remain below the ‘strong resistance’ level, currently at 1.1315.” Source: https://www.fxstreet.com/news/eur-usd-any-decline-could-be-limited-to-a-test-of-11185-uob-group-202505090940

You may also like

6MV Founder: In 2026, the "landmark turning point" for crypto investment has arrived

"I will deploy funds in 2026, so I will tell you this is the best year in history."

Abraxas Capital Mints $2.89 Billion USDT: Liquidity Boost or Just More Stablecoin Arbitrage?

Abraxas Capital just received $2.89 billion in freshly minted USDT from Tether. Is this a bullish liquidity injection for crypto markets, or is it business as usual for a stablecoin arbitrage giant? We analyze the data and the likely impact on Bitcoin, altcoins, and DeFi.

A VC from the Crypto world said AI is too crazy, and they are very conservative

Amid the Crypto frenzy and with investors who once missed out on Pinduoduo, a new AI fund called Impa Ventures was established, rejecting bubble narratives and adhering to a conservative "problem-first" strategy to seek real business value.

The Evolutionary History of Contract Algorithms: A Decade of Perpetual Contracts, the Curtain Has Yet to Fall

The ten-year evolution of perpetual contracts: from pulling the plug on 312 to the shocking short squeeze of TRB, a deep dive into the pricing machine that averages $200 billion daily, written with countless liquidations and real money, detailing the blood and tears of risk control theory.

Kicked out by PayPal, Musk aims to make a comeback in the cryptocurrency market

Cashtags generated a trading volume of 1 billion dollars just a few days after its launch, marking a strong start for Musk's super app strategy. For the cryptocurrency market, X's layout may be one of the most anticipated sources of retail growth after the meme coin craze subsides.

Solana ETF News: What Is a Solana ETF and Why Is Goldman Sachs Betting $108 Million on SOL?

Solana ETF news today shows Goldman Sachs disclosed a $108M position while total SOL ETF inflows reached $1.45B. Analysts now expect up to $6B in institutional demand as Solana trades 71% below its all-time high.

The Joker is back
Bigger pools, auto-play, lucky buffs.
The Joker is backJoin now and grab your rewards.

Popular coins

Latest Crypto News

00:42

The Humanity Foundation announced adjustments to the H token vesting plan and set a deadline, with some institutions publicly disclosing their choice to unlock at a discount immediately

The Humanity Foundation has recently made significant adjustments to the $H token allocation plan, requiring investors to make a final choice between two options by April 26 at 09:00 UTC: one, extend the distribution, pushing the Cliff to September 25, 2026, and changing to equal distribution over 1...
APEAPE
--
STRKSTRK
--
00:42

The S&P 500 and Nasdaq 100 indices hit intraday highs, with gains widening

According to Jinshi reports, the S&P 500 and Nasdaq 100 indices quickly expanded their gains, reaching new intraday highs.
00:42

Google plans to invest up to $40 billion in Anthropic

Market news: Google plans to invest up to $40 billion in Anthropic.
00:42

The Balancer attacker exchanged 13,191 ETH for 386 BTC

According to Onchain Lens monitoring, the Balancer attacker (0xa6d6...BDaA) has exchanged 13,191 ETH for 386.52 BTC in the past 15 hours, worth 30.54 million dollars. The attacker currently still holds 8,000 ETH, worth 18.52 million dollars.
00:42

Data: The current 8-hour average funding rate for BTC across the entire network is -0.0018%

According to Coinglass data, the current average funding rate for BTC across the network over 8 hours is -0.0018%. Among the current mainstream exchanges, the rate on Binance is -0.0032%, OKX is -0.0019%, Bybit is -0.0041%, and Gate is -0.0041%.
Read more
Community
iconiconiconiconiconiconicon

Customer Support Bot：@WEEX_support_smart_Bot

VIP Services：support@weex.com