EUR/USD today: the euro is forming a moving against Friday

The EUR/USD pair closed the day with growth on Friday trades. At the same time, by the end of the week, the American dollar had noticeably strengthened across the market, which was caused by the growth of optimism and positive statistics for the United States. Friday’s decline for the dollar, in addition to the correction and weak statistics for the United States, was caused by lower risks around the fundamental risks of the budget of Italy and Brexit.

The economic calendar for today is empty, and the main driver remains the risks, which have slightly decreased at the start of the week.

From the start of the day, the EUR/USD pair has updated to a maximum at the level of 1.1550 due to the continued Friday market optimism. It was followed by a rapid correction on the growth of the dollar, which, in turn, retained the possibility of resuming growth in the US dollar. Thus, the return of the EUR/USD pair for psychology 1.1500 will indicate the formation of a movement against Friday and, as a result, the resumption of a downtrend with a test of support: 1.1450-60 and 1.1420-30.

Read also: “Correction on the Elliott Wave Theory”

Hanzenko Anton

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