EUR/USD today: euro is under pressure
On Tuesday, the pair EUR/USD and the euro in particular accelerated the decline across the spectrum of the market on the aggravation of political risks in the euro area. Together with the collapse of the euro in the market, there is a flight of investors from risks and an increase in demand for safe haven assets.
Events for today:
- 16:00 – the composite housing price index S&P/CS Composite-20 (USA) without taking into account seasonal fluctuations (y/y).
- 17:00 – the US consumer confidence index from CB.
Despite the very significant data on the US, the market remains chained to the general sentiments of the market and the situation in the euro area.
In conditions of significant oversold of EUR/USD, from level 1.1550 it is necessary to expect repulsion and correction. But because of the high degree of influence of sentiments on the market, a test and a support level of 1.1500 is possible. Based on the existing trend, it is necessary to expect correction to the levels: 1.1600 and 1.1640-30, but this is only against the background of renewed optimism.
Fig . EUR/USD. Current price – 1.1540
Also, read: “The concept of the market driver and what to look for in the trade”
Hanzenko Anton