The EUR/USD pair continues hovering around the 1.0900, unable to attract investors, and despite the greenback trades generally higher across the board, which basically is saying more than price´s inactivity. Chinese stocks are up by a handful of points, limiting risk sentiment, although oil's prices plummeting to $30.00 a barrel are keeping investors on their toes, as further declines may trigger risk aversion this Tuesday.
There has been no fundamental data released in Europe, while the US one will also remain light, exception made by a couple of FED's member hitting the wires in different events.
View the Live chart of the EUR/USD
Technically, the 4 hours chart presents a neutral stance, with the price now stuck around its 20 and 100 SMA and trapped within Fibonacci levels, whilst the technical indicators are now horizontal around their mid-lines. In the same chart is clear that strong buying interest is surging on approaches to 1.0845, the 38.2% retracement of the December rally, meaning only a clear break below it will put the pair in the bearish track towards the 1.0780 region.
The upside seems a bit more messy, with sellers between 1.0930 and 1.0960, and more suspected on advances towards the 1.1000 psychological level. Only some steady consolidation above this last, followed by a continued advance, will open doors for a more stepper advance, not seen for this Tuesday.
Latest updates on the EUR/USD Forecast
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