EUR/USD today: the euro remains optimistic despite the risks of Brexit

On Wednesday, the EUR/USD pair is trading at the opening level of the day, in fact limited to psychological resistance 1.1300 and risks around Brexit. On Tuesday, the British Parliament voted to cancel the Brexit deal, today a vote will be held on the UK leaving the EU without a deal. If this vote fails, tomorrow they will vote to extend the Brexit date. Voting data will provide high volatility for the pound and the euro.

Events for today:

• 14:30 – the UK spring budget forecast will be released.
• Also at 14:30 – the US data will be released: nondefense capital goods shipments (excluding aircraft) (m/m), core  durable goods orders (m/m) (January), producer price index (PPI) (m/m) (Feb), durable goods orders (m/m) (January) and producer price index (PPI) (m/m) (Feb).
• 16:30 –  data on the US oil reserves will be published.

The EUR/USD pair continues to maintain an upward trend, limited to the level of 1.1300. The collapse of the pound could cause the growth of the euro through the cross to the resistance levels of 1.1330 and 1.1350. Such a move will be limited to overbought. While maintaining the resistance of 1.1300, it is possible to form a reversal and support the test levels: 1.1230 and 1.1200. Further dynamics of this pair continues to depend largely on the decisions on Brexit.

Read also: “The collapse of Bitcoin: what one should expect for? The answer is in the history of price changes”

Hanzenko Anton

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