There is a shortage of important news in the market.

Last week's strong decline in the euro is running out of steam.

At the same time, the EURUSD rate has not yet reached key lows below 1.0900.

So far, the decline we see is no more than the usual 50% correction to the previous growth of the euro.

What can change the current picture?

The stagnation in the euro may last another month – the fact is that on December 11 and 12 very important meetings of the Fed and the ECB will take place – the strategy of the main central banks will be decided for next year or at least for six months.

Therefore, the EURUSD rate may spend this month in a range followed by a choice of direction.

The pound – probably already decided – it's unlikely that the 800-point upward movement will be further "eaten up" – but here, too, the key date for December 12 is parliamentary elections.

EURUSD: we are still holding sales from 1.1070, stop with a reversal up to 1.1095.

However, purchases from 1.1045 are possible.