So, a new trading week has begun.
There was a sharp decline in the euro and the abolition of growth on the closing last week. Also, the EURUSD made at least three attempts to break above 1.1100 - but each time it failed.
Like in football: "You don't score - they hammer you." Sellers prevailed and dropped the euro below the important mark of 1.1045. Thus, the growth has been canceled, but there is no signal to a downtrend yet. Hence the range.
However, we are in no hurry to "sell from the bottom up".
Clear boundaries of the range are visible, where the top is 1.1100 and the bottom 1.0985.
The range is very narrow which is within a little more than a good day candle.
Therefore, it is more profitable to wait for a breakthrough in one of the borders and take a position on the continuation of the movement.
Meanwhile, on the news, the plot of US trade negotiations with China has not yet received any confirmation. In England, on the other hand, there is a tough fight before the December 12 election and in the United States, a plot with the impeachment of Trump is developing.
A large US news package will be released Wednesday which is about inflation according to GDP for the 3rd quarter (second report). I personally wonder what the beige book will be in the Fed's report on how the US economic slowdown is developing.
EURUSD: Buy from 1.1100; We sell from 1.0985.
