We don’t expect strong movements of the pair EUR/USD today
Yesterday the pair EUR/USD showed a decline and descended to 1.1176. In Germany GfK consumer climate index was 9.4 against expectations of 9.5, import prices fell by 0.6% against the forecast of -0.3% in February.
Today Catholics have Good Friday. The US markets are not working, but since the Good Friday is not a federal holiday, the statistics will be published. The US will publish GDP for the 4th quarter in the final assessment, forecast unchanged 1.0%.
On Monday, European countries will still rest, and the US markets will be open and we'll get data on personal spending and home sales. Personal spending is expected to increase by 0.1%.
The pair EUR/USD is traded in correctional downlink, the lower limit is located at 1.1148 low, while the upper boundary is located at 1.1187. Support and resistance levels remained virtually unchanged. The further reduction of the pair EUR/USD is limited by the 1.1154 area. The breakdown will allow the pair EUR/USD to decline to 1.1124.
How to trade
We would buy PUT options if the pair EUR/USD falls below 1.1154. We would buy CALL options if the price rises above the level of 1.1193.
Expiry time: 21:00 GMT