EUR/USD Forecast: Euro could remain directionless ahead of key data releases

EUR/USD has gone into a consolidation phase near 1.0800 early Monday after posting losses for the sixth straight week last week. The pair's near-term

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR /JPY .

Consumer Confidence and JOLTS Job Openings data from the US will be watched closely by market participants ahead of German inflation and ADP's US private sector employment report on Wednesday. Later in the week, inflation data from the Euro area, PCE inflation readings from the US and the US August jobs report could significantly influence EUR/USD's action.EUR/USD stays within the descending regression channel and the Relative Strength Index indicator on the 4-hour1.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

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