EUR/USD remains stuck in a range

5:32 PM August 8, 2022

Today's session is relatively calm on the forex market. The main pair continues to be range-traded and below Fibonacci levels marked by 61.8%.

However, the volatility may return as soon as the inflation data is published on Wednesday, especially on the dollar and the US indices.

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Daily Time Frame Chart

On the daily chart, we can see that the price has been sideways for 20 years, and this accumulation zone could dictate new momentum in the pair once this range is broken.

Traders should be on the lookout for this week's inflation data as it could dictate the next move in the USD.

EUR/USD, Daily time frame chart. Source: xStation

During this session, AUD is leading the gains!


Henrique Tomé, XTB Portugal


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