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EURUSD: Intraday Forecast & Short Term Analysis

The deadlock prevailing in the FX market remains unresolved, and with U.S. markets closed, activity is likely to remain subdued on Monday, leaving majors again trading within familiar ranges, analysts at UniCredit Research say in an note. The U.S. dollar is still broadly firm despite the latest batch of weak activity data in the U.S., but it is off from last week’s peaks against the other FX majors, they say. “In a nutshell, investors are apparently not eager to ride in any one direction yet, probably also due to a lack of strong signals from charts,” they say. The DXY U.S. dollar index is trading flat at 104.220; EUR/USD is flat at 1.0776; USD/JPY is down 0.2% at 149.91, while GBP/USD is up 0.1% at 1.2617.


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