EUR/USD Forecast: Euro struggles to break out of tight range

• EUR/USD continues to fluctuate in a narrow channel below 1.0800.
• The pair could start stretching lower in case risk mood sours.
• The US economic docket will not offer any high-impact data releases on Tuesday.

EUR/USD failed to gather directional momentum and closed the first day of the week virtually unchanged as trading conditions remained thin due to the US Presidents’ Day holiday. The pair continues to move sideways below 1.0800 early Tuesday.