EUR/USD today: the euro resumes growth

From the start of the day, the EUR/USD pair has been trading with a strengthening, showing a move against Friday. The reason for the growth are the attempts to strengthen stock indices and the weakness of the American dollar in maintaining the risks of tightening the US Federal Reserve monetary policy.

Events for today:

• 15:30 – US retail sales data: core retail sales index (m / m) (September), NY Empire State manufacturing activity index (oct) and retail sales (m / m) (September).
• 17:00 – business inventories (m / m) (August) in the United States.

Amid a general decline in the US currency, the EUR/USD pair has resumed its growth. At the same time, psychology 1.1600 remains a significant resistance, from which it is possible to repulse. On the other hand, the breaking of this resistance will confirm the safety of the uptrend and will open the way to the resistance levels: 1.1650 and 1.1670. The general market sentiment remains the main driver of the market and of the American dollar in general.

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Hanzenko Anton

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