EUR/USD Moves Flat, But Investors Expect a Surprise on Thursday

<p>&nbsp;Market movements on Tuesday yesterday remained slow as the United States (US) market was closed in conjunction with Independence Day.</p><p><br /></p><p>The US dollar is seen as weak against several major currencies but strong against the Euro which is trading gloomy with the release of less encouraging European data.</p><p><br /></p><p>Investors' focus is now on the minutes of the FOMC meeting which will be published early Thursday morning and the US NFP jobs data report awaits at the end of the week.</p><p><br /></p><p>Some more European data to watch today involves services PMI as well as European manufacturing inflation.</p><p><br /></p><p>If the published data reading declines, the Euro currency will continue to experience more severe depreciation.</p><p><br /></p><p><br /></p><p><br /></p><p>On the price chart of the EUR/USD currency pair, the price movement was relatively flat yesterday but showed a declining pattern moving below the 1.09000 level.</p><p><br /></p><p><br /></p><p>The price that has been below the Moving Average 50 (MA50) barrier level on the 1-hour time frame on the chart warns investors to prepare for a lower probability of a fall.</p><p><br /></p><p>If the decline continues today, it looks like the price will try to match the low level reached at the end of last week around 1.08400.</p><p><br /></p><p>Next, continuing the decline lower, the concentration zone at 1.08000 will be tested in addition to the price recording the latest low.</p><p><br /></p><p>On the other hand, if the price manages to show a surge past the MA50 barrier and is above the 1.09000 zone again, the price is seen to be more likely to make an increase to higher levels.</p><p><br /></p><p>The 1.10000 zone is waiting to be tested again this week after prices reached that level in recent weeks making it the highest level recorded since May trading.</p>