EUR / USD remains in a narrow range, the price is looking for direction

The single currency has stayed in a narrow range since the start of the day, and it does not appear to be "touched" by the fact that the US is considering deepening the trade war with Europe. Probably, when the news came out, an effect was not due to low liquidity. But maybe there is another reason for the "quiet" euro at this stage to move aside. However, confirming the imposition of new tariffs - especially during European or state sessions - will certainly have a dramatic effect on the euro.

Obviously, the sentiment remained positive for the euro after the H4 was able to go over the 50th period with a strong impulse and keep above 1.12472. At least in the short term, the sentiment remains bullish. From the previous analysis, the price has now reached Zone 1. I want to pay attention to this area. Today we also have a lot of options that run out between 1.1215 and 1.1275 and it's in significant size. The price has stopped in Zona 1, because over it there is an option of 1.1 billion euros, at 1.1275, which is "prepared" for the ECB meeting tomorrow. The price will revolve around this area, with the currency pair looking for direction, given the weak calendar today. Ie. bears will constantly counter each attempt at the 1.1275 attack price

Successful breakthrough of the area around 1.12750 will also provide the potential bulls to attack Zone 2, which is around 1.1300 - 1.13280.

Read more:

• FX options due today, 08.01.2020
• The only expiring FX options today are for GBP/USD and they are in a small size
• USD/CAD trying to get rid of the pressure of the sellers
• What’s ahead for the Australian dollar for the next year
• The festive mood of the FX markets is felt