EUR/USD today: the pair is in the correction phase

With the positive opening of the European stock indices the euro moved to correction like the majority of currencies because of  decrease in risks and a weakening of the US currency.

There are no scheduled news for today. And the main driver of the market is improving general sentiment in the market, reducing risks and  move against Friday as a result.

The EUR/USD remains in a downward trend, despite the fact that it has moved to correction. As a result, strong resistance is located at the levels: 1.1590-1.1600 and 1.1620, from which it is expected to resume decline. The factor of strengthening the pair is optimism, that is very volatile. Support is located at the levels: 1.1550 and 1.1520.

Read also: “Fundamental analysis: Inflation and the impact of its indicators on world currencies”

Hanzenko Anton

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

Topical articles of the trader’s blog:

1. How long will last the US trade war against all?!
2. Swedish Krona. Features of trading Scandinavian currencies
3. Norwegian Krone. Features of trading Scandinavian currencies

Current Investment ideas:

1. Preparing to have profits on an optimistic report of Alcoa Inc.!
2. On weak reporting of Boeing shares we can get a strong income!