EUR/USD today: the euro accelerated its decline on reducing risks

The EUR/USD pair at Wednesday’s trading shows a restrained movement near significant support 1.1170-60. The weakening of this pair was caused by a decrease in trade risks on the US concessions in new trade duties. Despite the growth of the American dollar and lower risks, the side trade channel remained in force.

Events for today:

• 15:30 – the US data will be released: export price index (m/m) (July) and import price index (m/m) (July).
• 17:30 – will publish stocks of crude oil in the United States.

Despite the appreciable strengthening of the US dollar against the euro to reduce risks, the trading channel from 1.1220 to 1.1170 remains, indicating market restraint. Technically, the possibility of testing the resistance level of 1.1200-20 for correction is not excluded. The overall dynamics of the pair remains downward, limited by the level of 1.1160.

Read also: “Analysis of a Successful deal on Facebook Stocks”

Hanzenko Anton

---

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

Topical articles of the trader’s blog:

1. Gold in the light of current events. How long is its growth
2. A new round of trade war: duties, restrictions, prospects
3. The results of the July Fed meeting for the market

Current Investment ideas:

1. Selling Alcoa shares makes a profit! Three reasons to connect now!
2. The trade war for Boeing: good or bad and how can we make money from it!