EUR/USD today: pair is in uncertainty

After Friday’s decline on the overall recovery of the American, the pair EUR/USD started a new week, trading in the range from 1.2380 to 1.2430. Part of the uncertainty of the market is caused by low activity due to the day off in the US and uncertainty after the decline.

Events for today:

• At 20:45 – the speech of the head of the Bank of England, Carney.

The day is not full of news. At the same time, the market continues to follow the dynamics of raw materials, which, against the backdrop of the aggravation of trade relations with the United States, come to the fore. The aggravation of trade relations between the US and China.

In the conditions of correction of the US dollar and the upward trend in the pair EUR/USD, the movement in the sideways trend is caused by uncertainty. So, on the movement against Friday, one should expect the resumption of the upward movement from the level of 1.2400, which will open the way to resistance levels: 1.2500 and 1.2550. Otherwise, fixing the price below 1.2380 will indicate a decline to 1.2340 and 1.2300, which will be caused by a deeper correction of the American.

Fig. EUR/USD. The current price is 1.2420.

Hanzenko Anton