FX.co ★ Euro is stuck below 1.0500

EUR/USD

It has been ten days since euro fell below 1.0500. Until now it could not move beyond it, but there is a chance that it will rise above 1.0500 soon, heading towards 1.0600 and even 1.0700.

Of course, such an increase is difficult to achieve given the current weak state of the EU economy. Uncomfortably high gas and electricity prices remain a problem, but going forward these issues will be solved, most likely as early as spring 2023.

For now, it is best to sell the pair in anticipation of a big drop or a big correction.