EURUSD started trading this new week where it left us on Friday. No real direction today as price makes no progress. Short-term trend remains unclear as long as price is trading above 1.12 and below 1.13.
Red line - resistance
Green line - support
EURUSD remains stable on Monday with volatility at its lowest. Price is trapped between 1.12 and 1.13 with no clear direction. If support at 1.12 fails to hold we expect price to move towards 1.1080-1.11 support area. If resistance at 1.13 breaks, then we should expect bulls to push price towards 1.14 to test the recent highs. My most probable scenario is to see EURUSD break below 1.12 towards 1.11.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.