It seems that EUR/USD will take a pause before tomorrow's news. The price rests on the resistance of 1.2355, which most likely will not be broken today. Market participants are waiting for news on inflation, which will be released tomorrow. These news can have a strong influence and set the mood for further movement. Thus, I would not make hasty conclusions and open positions today. I think that the volatility will be lowered around the level of 1.2355, or the price will fall again to the border of the channel to 1.2237.
the EUR/USD chart has changed according to yesterday's news. The dollar rose to 1.2275 yesterday against EUR, but today EUR/USD is trading at 1.2480, reaching a high of 1.2510. This level is the upper limit of the channel, so I can predict a price decrease to the area of 1.2350 this week. If the level of 1.2510 is interrupted, we will see new peaks in the area of 1.2770.
