EUR/USD today: the pair maintains a sideways trend
On Monday, the pair EUR/USD showed differently directed fluctuations in the range from 1.2210 to 1.2270, which confirmed the expectations for the formation of flat. The expected trading range from 1.2200-1.2160 to 1.2300-1.2330 remains in force. And, probably, will remain until the ECB meeting, which will be held on Thursday.
Events for today:
- 12:00 – release of data on Germany and the euro area: the index of the current economic conditions ZEW in Germany, the index of economic sentiment ZEW in Germany and the index of economic sentiment from ZEW in the euro area.
- 13:00 – announcement of the index of industrial orders (CBI) in the UK.
In addition to today’s news, the market is gradually shifting focus to the upcoming ECB meeting and statistics on the euro area. Also, do not forget about the dynamics of the US currency, which has a significant impact on this pair.
The trading range from 1.2200-1.2160 to 1.2300-1.2330 is very significant. Against the background of technical factors, it is possible to test the lower limit of this range. In this case, trades in the coming days will be with corrective character before the ECB meeting.
Fig. EUR/USD. Current price – 1.2230
Hanzenko Anton