EUR/USD: In a range trading mode with a mild upward trend
|Locked in the either side of 1,02 level remains the common European currency as the specific direction ahead of the Fed's interest rate decision on Wednesday looks difficult.
As long as the pair remains below the critical level of 1.0280-1.0300, the prospects for further pressure remain.
While the figures announced for the course of business climate in Germany earlier today were a little lower than expected. Something that did not seem to affect the euro as it seems that several figures for the bad course of the European economy have already partially '' Price In '' to the pair.
The question is whether these figures will continue to disappoint what will be the possibility of the European Central Bank to show the same aggressive policy in the next rate hike.
International stock markets are moving in soft tones, so the needs for dollar purchases as a safe haven currency is currently limited.
The overall market picture remains mixed with no specific reasons currently present for a strong direction for the pair.
Although the pair maintains a mild upward momentum remains doubtful whether it can be sustained for the rest of the day.
The basic strategy for holding long-term positions buy euros as stated in a similar article last week has not changed. However, the possibility of the pair returning to lower levels and again near to 1/1 and even lower remains.
During the day there is some possibility for attempt by the pair to break the 1.0280-1.0300 levels but it would be difficult to sustain prices above these levels.
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