The currency markets opened today after the weekend with no big surprises and minimal volatility in this first Asian session of the week. The dollar continues to trade depreciated against a basket of currencies today. EURUSD at 1.3675 down just 0.05% and at the same time it trades in a tight range just below the crucial 1.3710 year high level. The NFP report on Tuesday is what the markets are waiting before making their next big move.
Trade Idea
The graph clearly indicates the importance of the resistance at the year high level. Any break should accelerate momentum for the euro to reach higher levels. However this might level could also provide enough resistance to retrace the pair.
Disclaimer • Risk Warning
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