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At the end of last week, the Euro-dollar exchange rate continued to fall, came close to the 1.1300 level. The Asian session on Monday opened at 1.1313. While the EUR/USD pair movement restricted to a narrow range with the upper limit at 1.1330. The European currency is still under pressure after posting strong gains the U.S. dollar in the past week. The expected pullback on Friday did not happen, because the American currency was supported by news about the negotiations with China. The presidential administration has announced the official talks in Beijing, which begins on 14 February. This means that the current fees remain unchanged. We don't expect sharp fluctuations in exchange rates due to the lack of important macroeconomic data in the Eurozone and the United States.
Old downtrend remains. Price moves horizontally beyond the top border of the channel. But to speak about the reversal of the local trend will be possible only after overcoming the maximum of Friday.
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