Remaining Passive Early Week, EUR/USD Flat in $1.1200 Zone

<p>&nbsp;Market movements at the beginning of the week slowed after investors witnessed the biggest weekly drop for the US dollar following the impact of key data releases.</p><p><br /></p><p>Analysts view the movement of the US dollar to be more flat this week while being cautious ahead of next week's FOMC meeting.</p><p><br /></p><p>However, ancillary economic data will also be monitored this week such as United States (US) retail sales as well as unemployment benefit claims which can also affect the US dollar.</p><p><br /></p><p>Other major currencies in the market still have a chance to further strengthen their value this week, especially the Euro.</p><p><br /></p><p>European investors will be wary of Euro trades throughout the week ahead of policy meetings that will also take place next week.</p><p><br /></p><p><br /></p><p><br /></p><p>If you look at the movement of the EUR/USD currency pair chart, the price remained flat throughout Monday yesterday, just like last Friday's pattern above the 1.12000 zone.</p><p><br /></p><p><br /></p><p>Despite the slowdown, the price is still holding above the Moving Average 50 (MA50) support level on the 1-hour time frame on the chart which signals that the price is still in bullish mode.</p><p><br /></p><p>Investors are waiting for a surge to expect last week's increase to continue after this one.</p><p><br /></p><p>The price increase could lead to the 1.13000 level or reach 1.14000 to record a recent 17-month high.</p><p><br /></p><p>In the event of a further drop in price below the MA50 support level and beyond 1.12000, a bearish pattern is expected to begin.</p><p><br /></p><p>The price will move down to the previous concentration zones around 1.10700 and the 1.10000 zone which will invite an attractive reaction to the price around it.</p>