EUR/USD today: the euro is trading against Friday - Ester Holdings

EUR/USD today: the euro is trading against Friday

Friday trades closed with the growth of the US dollar against risky assets, which was caused by the persistence of risks and the correction of positions on the dollar before the Christmas holidays. On Monday, there is a movement against Friday, which is limited to psychology 1.1400. It is also worth noting that trading on the market becomes low liquid on the eve of holidays and it can provoke unjustified movements.

Trading today at the main platforms will be limited due to Christmas Eve. Therefore, the market by the end of the day will reduce the already low activity.

The EUR/USD pair remains in a downward channel on the correction of the dollar position, which will continue in the conditions of growing negative sentiment and the sale of commodity currencies. Psychology 1.1400 is a significant mark, a rebound from it will open the way to support 1.1370 and 1.1350. Fixing above 1.1400, on the contrary, will indicate a resumption of the uptrend and growth to resistance levels: 1.1440-50 and 1.1470. The decline in market activity will limit the movement of the pair.


Read also: “The Theories of Elliott Wave: Prediction of the Correction and Channel Formation”

Hanzenko Anton

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