EUR/USD today: the euro remains under the pressure of the correction

With the opening of trading on Tuesday, the EUR/USD pair was under the pressure of correction against growth on Monday. The reason for the correction was the resumption of risks on the stock exchanges, which was provoked by the persistence of concerns about trade negotiations and general geopolitical risks.

Events for today:

• 15:30 – data for the United States will be released: export volume, import volume and trade balance (November).
• 17:00 – JOLTS job openings in November will be released in the USA.
• 23:30 – API weekly crude oil stocks  in the United States.

The EUR/USD pair will remain under correction pressure, limited to support levels: 1.1420 and 1.1400 under conditions of maintaining uncertainty and risks. Separately, it is worth noting the positive start of stock indices in Europe, which returned optimism to the market, and could resume the decline of the American dollar. In this case, the purchase transaction should be considered at the breakdown of resistance 1.1450-60 and updating resistance levels: 1.1480 and 1.1530.

Read also: “Fundamental Analysis: the labor market and its impact on the dynamics of the national currency”

Hanzenko Anton

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