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Trader, analyst and instructor with a 6-year experience

EUR/USD remains flat below $1.31

EUR/USD is consolidating around $1.3080 ahead of the German factory orders data (contraction is forecasted). In a broader picture, the pair remains cramped in the $1.2959/3200 range and is trading in the daily descending Ichimoku.

TD Securities:  EUR/USD still looks generally range bound despite last week's rate cut and mixed messaging from the ECB. With a lack of momentum and clear catalysts sideways trading should remain the prevailing trend.

Resistance: $1.3100, $1.3120/30, $1.3200, $1.3230
Support: $1.3050, $1.3030, $1.3000, $1.2980, $1.2950

EUR
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