EUR/USD: Euro remains heavy between 1.0400 – 1.0500 levels

The single European currency for the fifth consecutive day remains in a narrow trading range between levels 1.04 - 1.05 with a very small extension beyond these levels.

The daily trading range in recent days has not exceeded 50-60 basis points, confirming the thoughts that investors remain very cautious about taking large bets.

In terms of macroeconomic announcements, there has been no surprise that will create disruption and provide any strong direction.

While the announcement of the Minutes from the last Fed meeting last night did not bring anything new to the table, with the central bank maintaining its target for reducing inflation, confirming the latest signals that further interest rate cuts over the year are not a given.

So the speculation that has been built around the prospects of tariffs being imposed by President Trump, the numbers and the final recipients remain very high on the investors' agenda and will determine the course of the pair in the near future.

The resilience shown by the European currency lately has confirmed my thoughts and desire to position myself in favor of the European currency after some dips, although I have failed to find the right entry point.

At the same time, the assessment that the pattern of recent weeks will remain in play for some time has also been confirmed as the exchange rate continues to remain in a range of fluctuation between the recent lows at the level of 1,0175 and on the other side just above the levels of 1,05.

The recent mild rise of the euro was quickly called into question, confirming the rhetoric of the previous article, maintaining the view that a return to levels close to the 1.07 - 1.08 level represents an extremely difficult challenge for the European currency at present.

On today's agenda, Initial Jobless Claims in US and consumer confidence in the eurozone stand out, while the participation of Fed officials with several statements is rich.

My thoughts on positioning in favor of the European currency are now distant as we have moved far away from the recent lows, consequently I am leaning towards the idea of ​​buying the American currency in the event that there is a peak near the levels of 1,07.