May 10, 2022 - 01:41 PM 263 views
Group Forex Market (FX) Strategists at UOB Group Lee Sue Ann and Quek Ser Leang
watched the EUR/USD currency pair clap an extra downside risk on a final close
that fell by 1.0470 points.
View: We spotlight
yesterday’s current move to be an integral part of a consolidation and we hope
the EUR pair trades sideways within a level of 1.0490/1.0585. Meanwhile, the
EUR currency eventually traded between 1.0493 and 1.0592 before closing at
1.0555 (+0.04%).We make sure to watch the price actions as an integral part of
the consolidation and predict EUR to trade sideaways within a price range of
Next 1-3 Weeks: Our
recent talk was from last Friday (6th May, traded at 1.0540) when
EUR had to financially close down the strong support at 1.0470 prior to the
continuous decrease. Since then, the EUR has not traded on downside risks,
instead trading sideways for the past few days. As long as 1.0640 is not
breached, the EUR has a chance, but not a good one, of falling below 1.0470.