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EUR/USD maintains a neutral stance - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that EUR/USD is trading around the 1.27 level for the second running day.

Key quotes

"Spikes either side of the level had been quite contained with the pair’s latest range set in between 1.2660 and 1.2720."

"With no headlines so far in Europe, dollar slightly positive tone across the board is finding support in rising stocks, with local indexes strongly up and US futures at levels not seen since early October."

"Technically, the 4 hours chart shows price retracing from the highs afore mentioned, with 20 SMA aiming slightly higher below current price, but indicators turning south above their midlines, lacking directional strength."

"US session will bring a good bunch of data, including Durable Goods Orders and Consumer confidence, which may finally wake the pair up."

"A price acceleration either side of the extreme may be able to trigger some small stops and result in a 30/50 pips move, albeit strong runs should not be expected, as investors will likely remain extremely cautious ahead of Wednesday’s FED economic policy meeting."

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