The single currency is inactive

The euro is inactive against the US dollar in the course of Thursday trading, after weakening its positions the day before. The decrease in the EUR/USD was facilitated by the partial fixation of profits by market participants, after the next update of the maximum of the current month on Wednesday. For more information, see Analysis of the American Session.

At the moment, inflation data on the Eurozone for October were published, which confirmed the forecast of analysts. This did not have a significant impact on the euro movement. See the Market News.

Technical analysis: Yesterday, the EUR/USD pair managed to consolidate above the resistance line of the descending channel on H4 in the first half of the trading session, but then rolled back, receiving support at 1.1770. In the event of a return of the instrument price back to the channel and consolidation below the level of 1,1750, it is worth considering a further reduction in the price of the instrument to the level of 1,1690-1,1665.

Fig.EUR/USD, current price – 1.1770.

Alexander Sivtsov