EUR/USD today: the pair maintains lateral dynamics
The EUR/USD pair from the start of the week continues to trade in the side channel from 1.1110 to 1.1070. Thus, it reduced significantly the possibility of reducing the euro against the US dollar. The potential for weakening of the pair remains, but it is limited by market sentiment and flat.
Events for today:
- 17:00 – sales on the secondary housing market in the US will be released
- 17:30 – crude oil inventories in the United States will be announced
- 21:00 – FOMC protocols will be published
The day today is very saturated with data on the United States, which holds back the dynamics of the American dollar and puts pressure on it. Since the market remains highly likely to stimulate the US economy, an increase in volatility in the US is possible.
The EUR/USD pair is limited by the flat from 1.1110 to 1.1070, while maintaining general downward dynamics. We can talk about the formation of an upward reversal after consolidation above the zone 1.1120-30. But it is also worth considering the possible surge in volatility at the end of the day. While the dynamics of this pair remains restrained downward.
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