EUR/USD today: the euro remains oversold on the strength of the American dollar

On Thursday trades continued with a decline in the EUR/USD pair on the general strengthening of the US currency. General geopolitical risks and tensions in the US – China trade negotiations continue to support the American dollar.

Events for today:

• 14:00 – the Bank of England meeting results will be published.
• 15:30 – initial jobless claims  in the United States.

The main event of the day will be the publication of the results of the Bank of England meeting. The overall market dynamics will depend on the general sentiment and the US currency.

The pair EUR/ USD has accelerated the decline from the start of the day, which reinforced the oversoldness of this pair. Fixing EUR/USD below 1.1350 challenged the three-month uptrend. A restrained correction from support levels: 1.1340-30 and 1.1300 is expected from this pair. Resistance is located at levels: 1.1370 and 1.1400.

Read also: “In Focus: Analysis of transactions for a EUR/USD pair during the week”

Hanzenko Anton

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

Topical articles of the trader’s blog:

1. The political crisis in Venezuela and its impact on the markets!
2. Fractals. Another simple indicator for earnings!
3. The World Forum: Davos 2019. Globalization is under threat!

Current Investment ideas:

1. Ready instruction to income! Earn with #CAT!
2. Aerospace Corporation brings a cosmic income!