EUR/USD today: the euro is under the pressure of correction - Ester Holdings

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

At the opening of trading on Thursday, the EUR/USD pair is trading downward after the correction after the increase. Yesterday, this pair updated the highs, following the growth of the pound, thus justifying the alternative expectations for the strengthening and resistance test 1.1330. Today, the market continues to be dominated by pound sentiment, which will also provide high volatility.

Events for today:

  • 14:30 – data on the United States will be published: the export price index (m/m) (Feb), the import price index (m/m) (Feb) and the initial jobless claims.
  • 16:00 – data on real estate sales in the United States.

A significant event of the day is voting in the UK Parliament to extend the Brexit deadline, which can also support the British pound if approved. At the same time, it is worth noting the significant overbought of the British and the fact that a similar voting outcome is taken into account in the price of a pound.

Therefore, a correction is expected from the EUR/USD pair, which will depend on the dynamics of the pound. With the general decline of the British pound under pressure will be the euro against the dollar, with the result that the support zone is expected to break through: 1.1300-1.1280 and decrease to support levels: 1.11230 and 1.1200. Resistance is the recent highs: 1.1320, 1.1340 and 1.1360, which can be updated on the new wave of British pound growth.


Read also: “Features of trading on crosses containing the Euro (EUR)”

Hanzenko Anton

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