EUR/USD today: the pair is limited by the lateral trend

From the start of the day, the EUR/USD pair has been trading with a slight strengthening on weak data on business activity in Germany and inflation data in the eurozone. Significant support for the euro is provided by the positive dynamics of stock markets. The limiting factor for this pair and the market as a whole is the expectation of the results of the US-China trade talks. As a result, restrained dynamics in major currency pairs is traced.

Events for today:

• 17:30 – the speech of the ECB President Draghi.
• 20:00 – The number of Baker Hughes oil rigs in the United States will be released.

In conditions of restraint of trades, we should expect similar dynamics before new data on negotiations between the USA and China. The EUR/USD pair is trading in a flat from 1.1360-70 to 1.1320-00. In the context of Friday’s liquidity decline, this range is likely to continue.

Read also: “Candlestick analysis. Continuation patterns. Part 2″

Hanzenko Anton

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