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EUR/USD trading flat in a 30 pips range - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik notes that EUR/USD is trading in a tight, 30 pips range on Monday, currently at 1.2942, despite the positive German trade balance numbers released in the European morning.

Key quotes

"With no data scheduled for the US session, the short term picture for the pair shows price hovering around its 20 SMA while indicators stand horizontal right below their midlines."

"In the 4 hours chart indicators are also flat in oversold levels, while 20 SMA extended its bearish slope now offering dynamic resistance at 1.3010."

"Nevertheless, there’s little suggesting such recovery with the downside still favored, to be confirmed on a break below 1.2920 past week low."

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