EUR/USD today: the pair keeps a sideways trend
After Friday’s trades, which closed with a slight increase of the American, the pair maintains a lateral trend in the range from 1.2200-1.2160 to 1.2300-1.2330. Despite the persistence of political risks in the US, the American is limited to recent support levels. The US dollar is supported by the positive dynamics of the US state bonds and a low market susceptibility to data regarding the US government.
Events for today:
- 15:30 – announcement of the index of national activity of the Federal Reserve Bank of Chicago (USA).
The calendar is almost empty today, but the current week promises to be full of news. Therefore, at the beginning of the week, correction of the positions ahead of the upcoming news is possible.
Taking into account the five-day side training and the existing trading range (from 1.2200-1.2160 to 1.2300-1.2330), there is a high probability of further movement in this trend, also taking into account the dynamics of the older timeframes and the limited further growth of the upper boundary of the rising channel.
Fig. EUR/USD. The current price is 1.2250.
Hanzenko Anton