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UOB discusses the possibility of a market trough on EUR / USD in the short term.
"EUR / USD hit a 2-week low at 1.1264, before Powell's comments sent it near 1.14.
The strength break of 1.1370 indicates not only that bearish pressures have eased, but also significantly increase the risk of a short-term low of 1.1264.
A clear break in the 1.1400 "would confirm" that EUR / USD had a short-term low of 1.1264, and that the pair would move above that level in the next few weeks.
This scenario would not be surprising until EUR / USD falls below 1.1290. "
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