EUR/USD today: the euro remains under the pressure

From the start of the day, the EUR/USD pair has been trading at the opening of the day level, maintaining a downward dynamic aimed at correction against Friday’s growth. Pressure on the euro comes from the trade standoff and the risks of a tough Brexit.

The economic calendar for today is almost empty, and the main driver of trading remains the data on the trade war and Brexit.

The  EUR/USD pair remains under the pressure of correction, limited by the support level of 1.1080 after a two-day decline. The euro may accelerate the decline in the context of the aggravation of political risks in Europe, which is associated with data on the suspension of parliament in the UK, and the aggravation of the US  – China trade war. So, the euro will update monthly lows at levels: 1.1030 and 1.1000. Resistance is located at 1.1200 and 1.1230.

Read also: “U.S. Trade Opposition. What are the risks?”

Hanzenko Anton

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

Topical articles of the trader’s blog:

1. What does the US Fed Chairman Powell statement mean for the US dollar
2. ECB is preparing a stimulus package
3. The national currency exchange rate as an advantage in trade talks

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!