Volatility EUR / USD pair remains at a low level. In the market there is still no news that could significantly change the balance of power. Moderate growth in currency pairs on Monday was mainly associated with the publication of more weak data on the US labor market at the end of last week and the expectation of the signing of the interim trade agreement between the US and China. Previously, many investors viewed the dollar as a defensive asset on trading risks. Now on the market there is growth in risk sentiment, so the demand for the dollar and other risky assets decreased.
Today the EU is not important news in the economic calendar. In the US, the focus will be inflation report. Experts predict the data on the level of the previous month, so the most likely impact of these indicators on the auctions will be limited.
On the chart EURUSD, the pair broke through the level of 1.1130, indicating a continuation of the correction movement. The immediate goal is the level of 1.1160.
Resistance Levels EURUSD: 1.1160, 1.1200, 1.1235.
EURUSD support levels: 1.1120, 1.1095, 1.1070
The main scenario - EURUSD rise to 1.1160
Alternative - the breakdown of the intraday support at 1.1120 and EURUSD decline to 1.1095.
Fundamental background - neutral. Consider buying EURUSD from 1.1120 level
Analytics euro against the dollar each day the EURUSD FORTFS