The US authorities have spent another day of talks, which turn out to be useless. There is still no agreement on budget spending. Meanwhile, there is a chance that the US Department of Labor will not publish Friday’s non-farm payroll figures this week.
Consequently, the US Dollar is losing strength today amid the negative news. Still, if we talk about the common European currency, the Fed’s indecision over the possible tapering of T-bond purchases seem to exert pressure on the European currency, simultaneously supporting the Dollar.
Today, on October 2nd, the ECB is to hold a meeting, which will be followed by Mario Draghi’s press conference.
According to Masterforex-V Academy experts, technically, the EURUSD currency pair has been moving within the 1,3460–1,3570 price range since September 19th. The fundamental picture is uncertain and controversial. This gives us to understand that the currency pair is unlikely to break out of the range in the near future. At this point, the price is in the middle of the range. It may hit the top or the bottom of the range depending on the results of the ECB meeting. According to the Binary Options Department of Masterforex-V Academy , it is better to abstain from trading today.
