EUR/USD today: the pair consolidates in a sideways trend

On Friday and Monday, the pair EUR/USD demonstrated multidirectional movements due to the market ambiguity after data on the US and the euro area and on the reduction of liquidity.

Events for today:

• 17:00 – releas of the US consumer confidence index by CB.
• 23:35 – announcement of the weekly stocks of crude oil in the US according to the American Petroleum Institute (API).

Activity in the European session is extremely low because of the day off. The growth of activity should be expected closer to the US session and the release of data on the US. But the market maintains a festive mood, which keeps the volume of trading reduced.

Given the uncertainty of Catalonia and the tax reform in the United States, uncertainty in the market will persist. The pair EUR/USD is expected to move in the range from 1.1820-00 to 1.1880-1.1900.

Fig. EUR/USD. The current price is 1.1860.

Hanzenko Anton