EUR/USD traders have not yet positioned after the German elections. A mildly better risk tone keeps the dollar under pressure. Lack of news about Evergrande and China’s ban on all cryptocurrencies may provide some boost to the US dollar. The EUR/USD price analysis shows a slightly positive picture as the German elections could not weigh heavily on the pair. While markets are refraining from new bets on the major currency pair after the German elections and before the new EU intervention, the EUR/USD pair is trying to rebound moderately from daily lows but is still within trading ranges on Monday. -Are you looking for automated trading? Check our detailed guide- As risk sentiment appears to be holding back dollar bulls in early Europe, markets are also awaiting US durable goods order dates. The first week of the new year saw investor optimism fueled by Chinese Evergrande and an optimistic outlook for US infrastructure. Fed Chairman Powell’s remarks and the NFP will be the major events that may shape sentiment in the current week. Due to a lower risk appetite, a comment from the People’s Bank of China (PBoC) on illegal digital currencies and renewed concerns about Everngrandes defaulting after the interest period has expired supports the dollar. The spokesperson for the House of Representatives, Nancy Pelosi, announced that the infrastructure bill will be voted on Thursday, despite her confidence in a $1 trillion infrastructure stimulus package. In the aftermath of the German Bundestag elections on Sunday, traders have refrained from positioning themselves in the common currency. Instead, for the first time since 2005, they have called for a “clear mandate” for government and the end of 16 years of conservative rule with Angela Merkel. As a way to estimate the trade situation, investors will be looking at the speech by European Central Bank President Christine Lagarde and consumer goods order data in the US. Get FREE Forex Signals Now! EUR/USD price technical analysis: 1.1700 to hold The EUR/USD price managed to find some support near the 1.1700 area and gained around 20 pips. However, the price is still under bearish pressure and may not find acceptance above the 1.1700 area. Thus, any rally will be capped by the 1.1750 level. Overall, the scenario remains the same as last week. -If you are interested in forex day trading then have a read of our guide to getting started- The pair has completed a 47% average daily range so far, indicating expected European session volatility. However, the volume data still supports the upside. Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal EUR/USD Daily share Read Next Learn2trade Launches Automated MT4 Forex Trading Service Gary McFarlane 1 year EUR/USD traders have not yet positioned after the German elections. A mildly better risk tone keeps the dollar under pressure. Lack of news about Evergrande and China's ban on all cryptocurrencies may provide some boost to the US dollar. The EUR/USD price analysis shows a slightly positive picture as the German elections could not weigh heavily on the pair. While markets are refraining from new bets on the major currency pair after the German elections and before the new EU intervention, the EUR/USD pair is trying to rebound moderately from daily lows but is still within trading ranges on Monday.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.