EUR/USD today: the pair is limited by market uncertainty - Ester Holdings

EUR/USD today: the pair is limited by market uncertainty

On Monday trades, the EUR/USD pair was trading very restrained, showing a limited increase on the weakness of the American dollar. At the opening of trading on Tuesday, this pair has received support for the general strengthening of the British pound before the vote on the Brexit deal. As a result, from the start of the day, the euro has updated a high against the dollar at 1.1280 and slowed down the downward trend.

Events for today:

  • 14:30 –  an inflation report in the United States will be published: coree consumer price index (CPI) (m/m) (Feb), core consumer price index (CPI) (y/y) (Feb) and the consumer price index (CPI) (m/m) (Feb).
  • 22:30 – API weekly crude oil inventories will be released  in the United States.

Significant data for today is inflation report in the United States. The main driver of the market are the votes in the UK Parliament on the Brexit deal, which will set the mood in the market.

  • EUR/USD pair is expected to maintain a weekly downtrend.
  • Therefore, from the resistance levels 1.1300-1.1280 a rebound is expected.
  • At the same time, it is worth selling the euro against the American dollar when the pair returns to the downtrend and consolidates below 1.1250-40.

Also it is worth noting the excessive volatility in the market due to a vote in the UK, which can complicate trading significantly.


Read also: “The Eurozone and the state of its economy based on key economic indicators”

Hanzenko Anton

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

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