EUR/USD today: the euro is near significant resistance - Ester Holdings

EUR/USD today: the euro is near significant resistance

From the start of the day, the EUR/USD pair has shown a rapid growth on the general decline in the American dollar, the growth of optimism and positive data on business activity in the eurozone services sector. This allowed this pair to correct after a decline last week and move on to the correction phase.

Events for today:

  • 15:30 – the US data will be released: export volume, import volume and trade balance (July).
  • 21:00 – will publish the Beige Book of the US Federal Reserve.

The day today is also full of a number of speeches by the Fed representatives, which will also affect the dynamics of the American dollar. The overall market dynamics continues to depend largely on sentiment.

The EUR/USD pair reached a significant resistance levels: 1.1020 and 1.1040 after growth yesterday and today, from which one could expect a reversal or formation of a flat. But, given the current mood and the possibility of pressure on the dollar by the Fed, further growth of the pair to resistance levels is not excluded: 1.1060 and 1.1080.

A formation of flat is expected with the return of pessimism to the market.

Support levels are: 1.1000 and 1.0970.


Read also: “Prospects for the USD/JPY  for early July

Hanzenko Anton


Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

  1. Currency is a weapon in a trade war!
  2. How far the prospects for USD/JPY may be downward
  3. What does the US Fed Chairman Powell statement mean for the US dollar

Current Investment ideas:

  1. Selling Alcoa shares makes a profit! Three reasons to connect now!
  2. The trade war for Boeing: good or bad and how can we make money from it!

Аналитическая рассылка

Analytical newsletter
Subscribe to the analytical newsletter to be up-to-date with current events!

Вы с украины?