EUR/USD today: the pair remains under the pressure

After updating the low at 1.1280, which was caused by the general strengthening of the American dollar on the US-China trade talks, the EUR/USD pair moved to a correction. As a result, a high of 1.1320 has been updated. Given the moderate dynamics of the market, further growth of the euro against the dollar will be limited.

Events for today:

• 17:05 – will be the speech of the Bank of England Governor Carney.
• 23:30 – API weekly crude oil inventories will be published in the USA.

The economic calendar today is almost empty. The main driver of the market will be the sentiment, which is largely associated with US foreign trade policy.

The EUR/USD pair formed a high of 1.1320, from which we can expect a break. A further decline is expected from the EUR/USD pair in conditions of maintaining optimism in the market and for the American dollar .

Deals for sale should be considered in the range of 1.1290-80.

Significant support and goals are located at the levels: 1.1240 and 1.1220. An update of the high cancels down expectations.

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

Hanzenko Anton

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