On Friday, EUR/USD closed the day and the week at the lowest end of the 1.1085 range.
Below that, however, there is an even more serious level of 1.0980.
Technically, the picture is telling us that there will most likely be a break down to 1.1085 and a move to 1.0980, but for now, the euro is holding higher.
What is the basis?
There was a lull in the market, as the Trump-China trade agreement was signed, there is no new trade wars, and the Trump-Iran tension has eased so far.
According to news from the United States, the week is very quiet.
The main news is the ECB's rate meeting on Thursday. It is very likely that the visible decline in the euro will be a bookmark for a new super-soft ECB statement. Let's look closely at this.
Sell euros from 1.1084.
Buy euros from 1.1180.
The material has been provided by InstaForex Company - www.instaforex.com