The EUR/USD pair remains at 1.0470 - UOB

UOB 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.

May 10, 2022 - 01:41 PM 263 views

The EUR/USD pair remains at 1.0470 - UOB

Market News

© The EUR/USD pair remains at 1.0470 - UOB

Free Enquiry Now

UOB 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.

Important Quotes

24-hour 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 1.050-1.0610.

In 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.

Share With -

 

No comments yet for this post

Please Login to comment this article.

If not a registered user yet, Please signup here