EUR/USD today: the euro maintains an upward dynamics
The American dollar and the EUR/USD pair unloaded the overbought after yesterday’s dollar correction across the market. It opens the way for buyers to resistance levels: 1.1580 and 1.1600. The limiting factor is the upper limit of the two-month channel, which can become a strong resistance.
Events for today:
- 15:30 – an inflation report in the United States will be published.
- 20:00 – the number of Baker Hughes oil rigs in the United States will be released.
The main event of the day will be the publication of the inflation report in the United States. Also, do not discard the uncertain political situation in the United States, which also puts pressure on the dollar.
A moderate growth is expected from the pair EUR/USD in the decline of the American dollar. On the publication of an inflation data, a rise in volatility is possible. The pair is expected to maintain growth with a resistance test: 1.1580 and 1.1600. Support levels are: 1.1510 and 1.1480.
Read also: “Trump’s tax reform. Prospects.”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- Long-term investment in currency pairs! The GBP/USD pair!
- Geopolitical risks for the beginning of 2019! (Part 2)
- Geopolitical risks for the beginning of 2019!
Current Investment ideas: