EUR/USD today: the euro slows down the decline

The EUR/USD pair on Wednesday trades with restraint after a decline on Tuesday, which forms a slowdown in the downtrend and hints on the formation of a reversal. Previously, the data for the United States had a pressure on this pair.

Events for today:

• 11:00 – data for the Eurozone: business activity index in the manufacturing sector (PMI) (July).
• 11:30 – the gross approvals for the UK mortgage loans will be announced.
• 16:45 – data for the United States will be publish: PMI (July).
• 17:00 – new home sales (m/m) (June) in the United States will be announced.

The day today is full of data on business activity in the manufacturing sector (PMI) of the eurozone and the United States, which will set the mood in the market.

The EUR/USD pair has been trading at the opening of the day level from the start of the day, restraining itself cautiously after a decline earlier. Significant support is located at levels: 1.1140 and 1.1120, from which there is a high probability of a reversal forming. The growth of this pair will be limited by resistance levels: 1.1190 and 1.1220 and a downtrend.

Read also: “The Impact of Trade War on the US Stock Market”

Hanzenko Anton

---

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

Topical articles of the trader’s blog:

1. Expectations from the July Fed meeting
2. How real is the currency intervention in the US
3. The trade war. Relations between Japan and South Korea

Current Investment ideas:

1. IBM shares will continue to decline. Get ready to make money on this with a ready-made investment idea from Ester!
2. Make Money on Intel Shares Growth!