EUR/USD today: the pair is limited by overbought

On Thursday, trades on the pair EUR/USD closed with significant growth, which was due to weak inflationdata in the US and comments by the head of the ECB Draghi. As a result, this pair was aimed at a maximum of a month, but is limited by the resistance level 1.1700-30.

Events for today:

• 15:30 –  data on sales in the US: core retail sales index (m / m) (Aug), export price index (m / m) (Aug), import price index (m / m) (Aug),  volume of retail sales (m / m) (Aug).
• 16:15 –  industrial production (m / m) (Aug) of the USA.
• 17:00 – business inventories (m / m) (July) in the US.
• 20:00 –  number of oil rigs from Baker Hughes in the USA.

A significant driver of the market is the general sentiment aimed at growth, which has a deterrent effect on the US currency.

The pair EUR/USD is limited by overbought after yesterday’s growth, as a result of which correction for the support levels: 1.1670-50 and 1.1620 is expected on the correction of positions before the weekend. A significant driver for the recovery of the dollar will be a decline in stock exchanges. Resistance is located at the levels: 1.1700-30 and 1.1750.

Read also: ” Collapse of the Turkish lira. A threat to the market “

Hanzenko Anton

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

Topical articles of the trader’s blog:

1. The EU and the UK are making compromises on Brexit
2. Singapore dollar. Features of trade.
3. How long will last the US trade war against all?!

Current Investment ideas:

1. Preparing to have profits on an optimistic report of Alcoa Inc.!
2. On weak reporting of Boeing shares we can get a strong income!