No important events are expected today.

Now we should highlight two factors that have a strong influence on the course of trading in this currency pair. On the one hand, we see a strong rise in gold on the commodity market due to the escalation of the geopolitical conflict in the Middle East, which supports the euro, as the assets are historically highly correlated with each other.

On the other hand, in the US debt market, yields on 10-year benchmark securities have approached the 5% level, which is favourable for a stronger dollar. As a result, we see EURUSD consolidating around 1.0550 – first the market rises following gold, then it falls following the yields of US securities. Today this trend may continue.

Recommendations: Sell 1.0610/1.0645 and TP 1.0550.