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In general, the market behaved relatively calm in the absence of any macroeconomic data and news. Quotes remained almost unchanged at the end of Monday. However, there was some speculative movement within the day. And this was precisely speculative, since the news background was completely empty.
Today we will have a slightly more interesting trading day, since a lot of data on the real estate market will be published in the United States. The data should come out in different directions. The rate of growth in housing prices may slow down from 3.7% to 3.6%, which, of course, will be perceived as a negative factor. However, it will be compensated by the sales of new homes themselves, which is expected to grow by 1.0%. In general, the data can be regarded as moderately positive, since, although a slowdown in the growth rate of housing prices is expected, they should grow by 0.3% over the month. But most importantly, sales themselves are growing, which offsets the relative stability of house prices.
New Home Sales (United States):
The euro/dollar pair moves along the downward trajectory of the side channel of 1.1700/1.1900, where the 1.1790/1.1850 price area serves as the level of the variable stop, relative to which the amplitude takes place. Relative to the market dynamics, there is a local slowdown in volatility by 24% from the average level.
Moving in a flat will still remain on the market, consistently working with the established boundaries.
Looking at the trading chart in general terms (daily period), you can see the price moving at the conditional peak of the medium-term upward trend, where the oversold US dollar is visible to the naked eye.
We can assume that the price fluctuations along 1.1790/1.1850 will not last long, where the best tactic is to consider the method of breaking the boundaries of the range, by entering the market on impulse.
A buy position is made higher than 1.1850, towards 1.1900.
The sell position is lower than 1.1780, with the prospect of a move to 1.1750-1.1700.
From the point of view of complex indicator analysis, we see that the indicators of technical instruments on the minute have a neutral signal due to price fluctuations in the range of hourly and daily periods that signal a sale.
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