The Euro is predicted to trade with an upward tendency, but gains might be limited to reaching 1.1225. Over a longer term, the currency may settle in a range between 1.1100 and 1.1290 according to FX analysts Quek Ser Leang and Peter Chia.

In the 24-hour outlook, the Euro was last at 1.1190 and expected to range between 1.1145 and 1.1235. It instead dropped from 1.1219 to 1.1129 before rebounding to close at 1.1163, a decrease of 0.21%. While a mild recovery is unfolding, a push beyond 1.1225 is not anticipated due to weak momentum. Present support is at 1.1160, and falling below 1.1135 could weaken current upward pressures.

Over the next one to three weeks, the Euro may have entered a consolidation phase. It is expected to trade within the 1.1100 to 1.1290 range. This forecast remains unchanged and encompasses risks, requiring careful research before making financial decisions.

We’re observing a delicate recovery in the Euro following its recent slip, which clipped earlier gains. The currency had climbed to 1.1219, only to reverse sharply and drop to 1.1129 before stabilising at 1.1163—down nearly a quarter of a percentage point. Although there has been a slight recovery, we’re not seeing enough momentum at present for prices to convincingly push through 1.1225. Short-term indicators do point to some upside possibilities, but these appear muted by broader conditions.

Chia and Quek’s short-term range call of between 1.1145 and 1.1235 has been tested rather quickly, with the lower end already breached during the pullback. However, their wider view, forecasting a range between 1.1100 and 1.1290 over the coming weeks, remains in place. Current weakness seems likely to persist temporarily, although not deep enough to invalidate the medium-term structure. For that to change, we’d need to see a sustained drop beneath 1.1100, which at the moment seems unlikely without added pressure from rate differentials or risk sentiment.

Given the underlying momentum remains fragile, it’s worth being strict with levels. Support at 1.1160 is being challenged, and slipping under 1.1135 wouldn’t just mark a near-term dip—it could start dragging sentiment lower through technical pressure. On the other hand, any break of 1.1225 would suggest that momentum is strengthening, possibly opening space toward the top of the three-week range, though such a move currently lacks broad backing.

We’re in a period that tends to reward caution. The longer this consolidation persists, the more traders will tighten their trading bands and adjust implied volatility forecasts. That could start influencing option premiums and short-dated derivative pricing. In this kind of range-bound behaviour, delta-neutral positioning and range-bound option strategies often offer favourable risk-reward profiles.

FX options markets have not yet signalled strong directional conviction, which aligns with the current technical backdrop. We can also infer that sentiment is leaning toward patience rather than chasing moves. That doesn’t mean opportunities are absent, but they’re more likely to be found at the edges of this outlined range, rather than at midpoints where conviction remains low.

In the coming sessions, any momentum-based signals should be used with more discretion. We’ve already observed how thin order books made the Euro susceptible to abrupt reversals even in widely expected ranges. Until we see a consistent tightening of spreads and more stable price action above 1.1200, upside targets north of 1.1290 remain premature.

There’s benefit in keeping risk calibrated tightly around these reaction levels. Trends here aren’t extended, and that favours strategies that assume rotation, not breakouts. The sort of de-risking visible in adjacent asset classes suggests participants are preparing more for sideways moves than fresh rallies.

For now, stick to defined levels—risk comes from assuming breakouts that don’t follow through.