Stagnation could be seen in the market as trading activity remained low due to the empty macroeconomic calendar and news about the global economy. However, movement will likely resume this week because key reports, such as durable goods orders in the US, will come out. Forecasts say the volume will decrease by 0.9%, indicating a fall in consumer activity. Inflation will continue to slow down following it, which will lead to dollar weakening slightly.
EUR/USD will rise slightly, following an intense downward trend. At the moment, it trades above the level of 1.0900, which may result in an increase in long positions. In this situation, a return above 1.0950 will stimulate buyers for further growth, while a drop below 1.0885 will change the situation in favor of sellers.
GBP/USD trades within the narrow range of 1.2700/1.2750, showing limited activity. This sideways movement may indicate an accumulation of trading forces, after which sharp price changes may occur.
