EUR/USD today: the pair is under the pressure from the American dollar - Ester Holdings

EUR/USD today: the pair is under the pressure from the American dollar

With the opening of the new week, the US dollar is trading with strengthening against a basket of competitors. The reason for this was the exacerbation of trade risks, after the statement by the US President D. Trump about the possibility of introducing new duties on Chinese goods during the week, if trade negotiations did not move from a dead end. The growing risks of aggravating trade relations between the United States and China returned negative sentiment in the market, thereby increasing the demand on safe assets and the movement of the dollar against Friday.

The economic calendar at the beginning of the week remains almost empty. The main driver of trading are the fundamental factors and geopolitical risks.

The EUR/USD pair is trading sideways, limited to a flat flat from 1.1200-10 to 1.1180-70, despite a noticeable strengthening of the dollar against most of its competitors. With the increasing risk and the general strengthening of the dollar, we should expect a downward movement to support levels: 1.1150 and 1.1130. Marks of significant resistance are: 1.1200 and 1.1220, fixing above which will cancel expectations of decline.


Read also: “Dow Theory – Averages must confirm each other”

Hanzenko Anton


 

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