EUR/USD today: the euro is in uncertainty

From the start of the day, the EUR/USD pair has been trading in different directions on the correction after yesterday’s high of 1.1320 and fundamental pressure. The pressure was caused by statements by the ECB officials, who said that they had not considered the possibility of tightening monetary policy. As a result, the euro was under the pressure from speculation, updating a low at the level of 1.1280.

Events for today:

• At 16:15 – data for the United States will be released: industrial production (m/m) (mar) and industrial production (y/y).
• At 23:30 – API weekly crude oil inventories will be announced in the United States.

Market dynamism remains very restrained, despite the statements. The growth of optimism in the stock markets contributes to the preservation of the downward trend for the Americans.

The EUR/USD pair corrected after growth after updating the low at 1.1280. For continued growth, we should expect the formation of a reversal at the level of 1.1280-60, which is why a repeated support test is possible.

Deals on the purchase of euros against the dollar are possible in the formation of rebound and consolidation above 1.1310-20, which will open the way to resistance levels 1.1350 and 1.1370.

A break of support zone 1.1280-60 cancels expectations for euro growth and calls into question the uptrend of recent weeks.

Read also: “5 financial advice for traders for  2018”

Hanzenko Anton

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

Topical articles of the trader’s blog:

1. Gold: results and forecasts
2. Oil market: results and forecasts
3. World reserve currencies and their popularity

Current Investment ideas:

1. Johnson & Johnson shares are growing again! Connect to an investment idea now!
2. CAT shares give SUPER-opportunity to earn in April!
3. Citigroup Inc. shows good potential for the growth. And on this we can earn! Get connected!