EURUSD has been Stuck in a Very Tight Range

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The pairing of the EURUSD had a volatile week last week, but it looks like the EURUSD is now taking a little breather ahead of the FOMC meeting minutes which will be released this week and could see chaos return.

The pairing dipped just below the 1.13 marker last week, and we certainly aren’t expecting to see it dip back down to that level. Although the market is expected to be bearish, we could still see a slight rise in prices as the US economic data ripples out across the market in an otherwise slow-data day. Further delay on the interest rate increase (which is now looking likely for December) should push the USD down against the Euro, albeit gently.

With that in mind, we are going long in the markets in anticipation of a small rise in the Euro. This may be a position we will hold for a while. For now, it looks like the next trade may be early in September.

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