EUR/USD today: the euro continues to form a reversal

The EUR/USD  pair at the opening of the new week was under the pressure from risks, which accelerated the decline and rebound from resistance levels: 1.1080 and 1.1100. The reason for the exacerbation of risks was the attack on the largest oil refinery in Saudi Arabia. As a result, geopolitical tensions in the Middle East escalated sharply.

Events for today:

• 15:30 – the index of production activity of NY Empire State (September) in the USA will be released.

The economic calendar today is almost empty, but  data from the Middle East will continue to set  market sentiment.

EUR/USD remains under the pressure on rising risks and the general strengthening of the American dollar. The limiting factor for the US dollar remains the expectation of the US Federal Reserve meeting, which is expected to lower rates. In the presence of risks, this pair will continue to decline to the support levels: 1.1030 and 1.1000. Resistance are marks: 1.1080 and 1.1100.

Read also: “What does the US Fed Chairman Powell
statement mean for the US dollar “

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

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