EUR / USD today: EUR under pressure of correction
Monday trades opened with restrained dynamics of the EUR / USD pair , as well as the market as a whole. The cause for ambiguous sentiments in the market was the scandalous closing of the G7 summit and, as a consequence, a multidirectional trade on the stock markets of the Asia-Pacific region.
The economic calendar is empty today, but the week promises to be full of news.
Given the continuing uncertainty on the market and the expectations of the upcoming Fed and ECB meetings, investors are still waiting, which may serve as an excuse for slowing down existing trends.
The EUR / USD pair , despite the correction for the American dollar and the increase in risks, remains in an uptrend, limited to support levels: 1.1770-50 and 1.1730-00, from which it can be rebound. Forming the bottom and updating the daily high can serve as a signal for buy and the resumption of the uptrend. Also, in conditions of market uncertainty, there may be bursts of volatility.
EUR / USD Chart. Current price – 1.1780
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Hanzenko Anton