At the end of last week, on Friday, as we expected, after the impulsive growth of the Euro against the US Dollar towards the area of the upper limit of the range, there was a slowdown in dynamics — the price found some resistance above the $1,0900 mark. However, today, on Monday, in continuation of the events of last week, against the background of broader global volatility, there was a fall in the main European stock markets, a weakening of the US dollar and, as a result, the strengthening of the single European currency.
Globally, the quotes of the EUR/USD pair are still in the resistance zone, where at any moment, when a provoking factor appears, a wave of sales may occur, with the price returning to the range. Even above the 1.1000 level, which, among other things, is a psychological mark, conditions may form for a trend change.
Nevertheless, when making trading decisions, it is necessary to take into account the planning horizon, the current price dynamics, possible triggers in the information field and your own risk management system.