EUR/USD today: the pair maintains an uptrend

At the opening of trading on Monday, the EUR/USD pair was under the pressure from a correction against Friday. As a result, this pair updated a low at 1.1010 and resumed growth. The main reason for strengthening this pair is the weakness of the US dollar waiting for the the results of the US – China trade talks.

The economic calendar is almost empty today. Therefore, the main driver of trading will be the general mood, which depends largely on the US – China trade talks.

The EUR/USD pair maintains the upward channel of recent weeks, but is also limited by trade uncertainty and the virtual absence of details on the trade agreement. Technically significant support is located at the levels: 1.1010-00 and 1.0980, and the resistance levels are 1.1040-50 and 1.1080. It should be noted that the inability of this pair to gain a foothold above 1.1040 will indicate the formation of a flat and the slowdown of the ascending channel.

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Hanzenko Anton

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