Today after the celebration of Christmas and in preparation for New Year's Eve, our pair entered the price corridor. Markets are almost completely inactive during Christmas vacations and the volatility in the markets has declined.
In the United States this week a few parameters which can speed up the market are still awaited, but these will not be able to have long-lasting effects or expand the market.
In Europe in the last week of the year which is coming to an end the output of macroeconomic data is hardly expected.
Considering our schedule, we can determine that our pair is being traded in the range of 1.1845-1.1900 and during the Asian session the pair rose by a dozen points. Given the reduced volatility, we can assume that the pair, which is currently located near the 1.1875 mark, will try to reach the mark of 1.19; from this level it is possible to retreat to the lower limit of the corridor.
At the moment technical indicators also point to an upward movement, but the Stochastic has already approached the overbought zone and the RSI is practically horizontal.
This way, our trading advice for today is to expect a downward correction, possibly during the release of data from the United States, in particular, the Index of Consumers' Trust for December.
