EUR/USD today: the euro resumes growth - Ester Holdings

EUR/USD today: the euro resumes growth

The pair EUR/USD on Tuesday closed the trades with strengthening of the euro across the spectrum of the market, which was caused by rumors that at the previous meeting of the ECB will consider the possibility of curtailing the stimulus program in the euro area. This allowed this pair to return to the highs of the month and resume growth on Wednesday trading.

Events for today:

  • 15:30 – data on the United States: the level of productivity in the non-agricultural sector of the United States (q/q), The balance of the US trade and labor costs in the United States (q/q).
  • 17:30 – data on oil reserves in the US.

The growth of optimism relative to the euro will remain the main driver for this pair. A limiting factor in the strengthening of the euro could be the negative opening of European stock indices, which will support the dollar.

The EUR/USD pair is limited to the level of 1.1740-50, the breakthrough of which will open the way to resistance levels: 1.1790 and 1.1830. This movement is embedded in the upward trend of recent weeks, and will receive support from the level of 1.1700-20.

Fig. EUR/USD. Current price – 1.1740


Also, read: “Internal correlation of the foreign exchange market: the Ghost of the past or the instrument of trade of the future”

Hanzenko Anton

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