EUR/USD today: the pair remains in a downtrend

Trades on Tuesday were closed by a restrained correction of the pair at a break from the support level of 1550-30, which was repeated at the opening of the European session. Yesterday’s movement is embedded in the scope of correction before further decline, but today’s movement speaks about the formation of a flat and slowing down the decline. At the same time data on business activity had no impact on the market practically.

Events for today:

• 15:30 –  data on the US trade balance: US exports, US imports and trade balance (July).
• 23:30 – API Weekly stocks of crude oil  in the United States.

After a multidirectional trade at the start of the European session, the EUR/USD remains within the European session on Tuesday, indicating a slowdown in decline and the formation of a flat, but keeping the downward channel.

Significant resistance is the mark: 1.1600, strong psychology, from which it is expected to be repelled, and 1.1630-50, the upper boundary of the downward channel. Supported by the marks: 1.1550 and 1.1520.

Read also: “The trading strategy on the news Erste News VS Other technologies!”

Hanzenko Anton

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

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