No Plunge, EUR/USD 'Clinging' Around $1.0800

<p>&nbsp;Market movements were slow at the beginning of the week as expected following the United States (US) holiday in conjunction with Labor Day.</p><p><br /></p><p>Thus, the US dollar moved horizontally and did not continue trading momentum last Friday when the price reaction was exhibited after the NFP employment data report was published.</p><p><br /></p><p>Will limit the strengthening of the US dollar at the beginning of the week, market sentiment is increasingly restored with the development of economic recovery measures in China, seen to encourage the decline of the US dollar as a safe-haven.</p><p><br /></p><p>The Euro currency was also flat on Monday yesterday following the speech by the President of the European Central Bank (ECB) Christine Lagarde in London did not give any new indication of the central bank's monetary policy.</p><p><br /></p><p><br /></p><p><br /></p><p>The chart of the EUR/USD currency pair saw the price just flat around the 1.08000 zone yesterday.</p><p><br /></p><p>The initial rally from the 1.077000 level tested the 1.08000 level but failed to extend the climb higher.</p><p><br /></p><p><br /></p><p>The price also remains moving below the Moving Average 50 (MA50) barrier on the 1-hour time frame on the EUR/USD chart, suggesting a bearish trend.</p><p><br /></p><p>With the expected price decline to continue, the latest lows will be recorded this week with a target to go up to 1.07000.</p><p><br /></p><p>However, if the price makes an increase above the 1.08000 zone, the MA50 barrier will also be passed and will signal a bullish movement for the price.</p><p><br /></p><p>The increase will continue to the height reached last Friday around 1.08800 before heading to the target resistance zone of 1.09000.</p>