EUR/USD today: the pair slows down

At the trades on Monday, the pair EUR/USD is traded with a slight strengthening, which is caused by the growth of optimism in the market and correction of positions against Friday. At the same time, the trading range of the end of last week from 1.2200 to 1.2300 is preserved, thus indicating the uncertainty of the market.

Events for today:

• 21:00 – a report on the implementation of the US federal budget.

In conditions of a positive start of stock indices and a restrained correction of the US currency, the possibility of slowing down the existing downward trend has increased. And, as a result, the resumption of the pair EUR/USD growth from the level of 1.2230-00 (Fibo from the low of December 2017).

In conditions of maintaining the channel from 1.2200 to 1.2300, one should expect the pair to move at the level of opening of the day and with a possible support test of 1.2230-00. At the same time, maintaining the above-mentioned range may indicate a slowdown in the downtrend and the formation of a reversal. Support levels: 1.2200 and 1.2150, resistance: 1.2300 and 1.2350.

Fig. EUR/USD. The current price is 1.2260.

Hanzenko Anton