EUR/USD today: the American is growing all over the market
On Tuesday, the US dollar remains optimistic on the entire spectrum of the market, which is caused by the continued optimistic sentiment in the market. Also, support to the American is provided by low activity in the market related to the day off in the euro area. So, only UK sites are traded on the stock exchanges of Europe and they are supported by the sale of the pound because of weak statistics on business activity.
Events for today:
- 16:45 – the index of business activity in the manufacturing sector (PMI) of the United States.
- 17:00 – data on business activity in the US.
The growth of activity and the possible change of sentiments should be expected closer to the American session.
Yesterday’s expectations for the pair EUR/USD were justified. Now one should expect a psychology test of 1.2000, from which the repulsion is possible. The market expects new data on trade confrontation between the US and the eurozone, and this fact may serve as a driver for new movements in the market. Therefore, during this period it is worth to be extremely careful. And the opening of trading in the US session can cause a correction. Support levels: 1.2000 and 1.1970, resistance: 1.2050-60 and 1.2090.
Fig. EUR/USD. The current price is 1.2030.
Hanzenko Anton