The weak state of the eurozone economy and the soft position of the new head of the ECB K. Laggard in his first public speech and this played against the euro last week.
A long attempt to go above the level of 1.1100 failed due to this, the EURUSD rate could not withstand the sellers' attack and fell below 1.1050.
We exited purchases at breakeven 1.1045 and the euro has moved into a range state.
Nevertheless, we expect movement and take a breakthrough position - since the range is narrow.
We buy with a break above 1.1100, whereas, we sell on a break down 1.0985.
This week, a large package of important US data will be released on Wednesday, November 27: inflation data, the second reading on GDP and the Beige Book Fed report.
