EUR/USD today: the pair remains under pressure

With the opening of the new trading week, the EUR/USD pair resumed its decline, which was caused by the general strengthening of the American dollar and increased risks. Low activity at the start of the week and maintaining optimism about the Fed’s rate hikes accelerated the growth of the dollar. As a result, in the European session, this pair was already oversold and traded in a flat.

The economic calendar today is virtually empty, and a day off in the United States and Canada will intensify declines in liquidity in the market.

Because of the actual lack of activity in the American trading session, anything can be expected from swift, unjustified movements in the absence of liquidity, to a narrow flat. In conditions of oversold EUR/USD pair correction is likely, but it will also be limited. The expected trading range is from 1.1250-30 to 1.1280-90, shifted in the direction of correction.

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Hanzenko Anton

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