EUR/USD today: the euro is correcting after the decline

The EUR/USD pair from the start of the day has shown an upward trend in correction after yesterday’s decline, which was caused by the ECB press conference. As a result, a low of 1.1090 was updated. This level corresponds to the lower border of the October uptrend.

The economic calendar at the end of the week remains empty, and the general driver acts as the driver of the market.

EUR/USD in the conditions of an upward correction resumes the growth of the monthly uptrend. Zone 1.1100-1.1090, corresponding to the lower boundary of the monthly ascending channel, acts as significant support. The formation of a reversal will indicate a resumption of growth. In this case, the zone 1.1130-50 remains a strong resistance, which may limit the strengthening. It is also worth noting the technical correction of positions at the end of the week and the continuing uncertainty in the market, which may lead to the formation of a flat.

Read also: “Oil market: forms a reversal or maintains lateral dynamics”

Hanzenko Anton

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