EURUSD
Trend: Neutral/Upward
Support/Resistance: 1.1710 – 1.1760
The U.S. government shutdown has effectively paused most official economic reporting, leaving the markets without fresh macroeconomic data from the United States. This lack of input is expected to limit volatility in the early part of the week, as traders focus instead on developments from the Eurozone.
Key data on Monday will include Eurozone Retail Sales at 9:00 AM GMT and ECB President Lagarde’s speech at 17:00 GMT. Both events could provide short-term direction for the euro, but until then, the market is likely to remain range-bound.
According to World-Signals.com, EUR/USD is expected to trade within the range of 1.1710 to 1.1760 throughout most of Monday. A breakout above or below these levels could trigger stronger momentum in the corresponding direction.
At this stage, the probability of an upside breakout above 1.1760 remains slightly higher, reflecting underlying euro resilience amid the U.S. political uncertainty. However, as long as the pair stays inside the defined range, intraday strategies should favor buying near the lower bound and selling near the upper bound.
Forecast provided by World-Signals
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