EUR/USD: Euro started the week with recovery

The pair EUR/USD is traded upward at the Forex currency market after the drawdown on Friday.

By 10.20 Moscow time the Euro is at 1.3616 after the closing level at 1.3581 earlier.

Today’s enthusiasm of the players is associated with expectations of an indication from the European Central Bank about the ways to combat rising inflation, as well as anticipation of publications of positive Germany statistics at the beginning of the week.

In addition, after the decline on Thursday and Friday at Forex, the Euro has reached the levels which make it attractive for purchases, sagging below 1.36.

All investors’ attention will be focused on the ECB’s reaction at the beginning of the week; if monetary politicians give to understand that they see real instruments to combat rising prices, the Euro will continue upward movement.

Most likely the pair EUR/USD will not go beyond the range of 1.3580-1.3690 at the trading session on Monday.

 

 

 

 

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