EUR/USD today: the dollar remains optimistic
On Wednesday trading, the EUR/USD pair is trading lower, due to the continued optimism on the US currency after the announcement that the US and China are ready to return to the negotiating table on the trade confrontation. Also, the market expects the outcome of the Fed meeting, which should give hints about the future fate of interest rates in the US.
Events for today:
- 15:15 – ADP nonfarm employment change (July).
- 16:45 – index of business activity in the manufacturing sector (PMI) (July).
- 17:00 – data on business activity in the US: ISM manufacturing employment index (July), ISM index of business activity in the manufacturing sector (PMI) (July).
- 21:00 – the results of the meeting of the US Federal Reserve will be published : FOMC statement and Fed interest rate decision.
Before release of US data market drivers remain the mood and correction of positions before the decision of the Fed.
Technically, the pair EUR/USD remains in the monthly trend, squeezed in the range from 1.1640-50 to 1.1700-20, where further movement is expected. It is also worth noting that the pair remains in the descending phase of the growth of optimism for the American dollar and therefore a test of support levels: 1.1660 and 1.1640 is possible.
Read also: “Advantages of the StopLoss order before the strategy ” Lock”or “Averaging” for a novice trader»
Hanzenko Anton
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