Over the past 2-3 days there was no important fundamental data. So the EUR was trading quietly without any changes. In the morning trade, the euro/dollar pair managed to break through yesterday’s high at the level of resistance at 1.1351. It is highly possible that the EUR will move higher above 1.1400. However, as it usually happens, the downward correction is also possible. I think that the euro will first edge lower to 1.1321 and only after that will it rise to 1.1360.

Trading targets for today:

1. The main trading direction will stay within the channel of 1.1285 and 1.1345
2. To set an uptrend, the bulls need to push the euro above 1.1400.
3. If the euro moves below 1.1274, it will mean the start of the downward movement.
4. The volatility is high today as the tensions between the US and China bring some uncertainty to the market.