EUR/USD today: the pair is in uncertainty

EUR/USD from the start of the day remains under pressure from negative sentiment and lower stock indices, which tends to weaken the euro. Technically, this pair remains in the oversold zone on the daily timeframe and is limited to a three-month ascending channel, which is the main factor limiting the decline of this pair.

Events for today:

• 17:00 – will release data on sales of real estate in the United States.

Despite the saturation of the day and significant statistics, the main driver of trading are market sentiment, which remain very negative against the background of declining stock indices.

EUR/USD is in the zone of uncertainty in the change of two trends, limited to the range from 1.1370 to 1.1350. In this case, the downward trend is more marked, despite the oversold pair. Therefore, when support is broken through: 1.1350-30, we can expect an acceleration of the decline to support levels: 1.1280 and 1.1250. Resistance is located at levels: 1.1380 and 1.1400.

Read also: “Some patterns for earnings on the financial markets. Part 3″

Hanzenko Anton

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

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