EUR/USD today: EUR is under a pressure of risks
At the beginning of the day, the euro was under pressure across the market spectrum on the escalation of risks in the euro area, which, against the background of optimistic comments by the representative of the Federal Reserve on raising rates in the US, became the driver for the sale of the euro across the market.
Events for today:
- 15:30 – an inflation report in the US.
- 19:00 – WASDE USA report will be published.
- 20:00 – number of oil rigs from Baker Hughes in the USA.
After the morning collapse of the euro, the general market sentiment will act as a driver, which will set the strength of the correction. At the same time, the market is also waiting for inflation data in the US, which will come to the close of the European session.
On the morning euro decline the pair EUR/USD formed a downward trend, as a result of which such significant support levels were broken: 1.1500 and 1.1450. The level of 1.1450 remains significant for the moment and corresponds to the lower boundary of the June-August trading range. Also, do not forget about the oversold of euro over the market, a slight increase in optimism in the European and American sessions can serve as an excuse for the correction of the euro. Levels of resistance: 1.1500 and 1.1550.
Read also: “Correlation strategy for trading in the Forex market”
Hanzenko Anton
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