On Friday, the market did not receive important statistical information and the markets traded under influences of previous drivers and sessions. On this background, the strengthening of the US dollar continued. After four days, EUR / USD could not take the technical barrier 1.2375, and finally it became clear that the bulls were exhausted, and the bears are taking the initiative. Such situation can not last long.
These sentiments intensified when today at European trades the pair EUR / USD broke through the strategic support at 1.23
As a whole, we have a wide sideway range with borders at 1.2185-1.2500, while there are no prerequisites for a possible price exit from this consolidation. With a breakout of 1.23, the price will obviously go to the lower limit of the specified range. The support area starts at levels 1.2260-1.2220. Strategic support is located at the levels of 1.2200.
Our trading recommendations out of the market