EUR/USD today: the pair slows down
On trading at the end of Tuesday and the beginning of Wednesday, the EUR/USD pair showed a significant increase, which was caused by the growth of optimism on Brexit and the regular criticism of Trump the US Federal Reserve. And the pressure on the American dollar was optimistic about the trade negotiations. As a result, this pair slowed down significantly and returned to the highs of the current week at 1.1250.
Events for today:
- At 15:15 – ADP nonfarm employment change ADP (Mar.) will be published.
- At 16:45 – data on business activity (PMI) in the services sector in the US (Mar).
- At 17: 30 – stocks of crude oil in the United States will be announcee.
The day is full of statistics today, but the main focus of the market remains on Brexit and the US-China trade negotiations.
The EUR/USD pair is trading near significant resistance 1.1250-60, limited to overbought. In the conditions of the formation of the correction of rebound from this level, we should expect the resumption of decline in support levels: 1.1200 and 1.1180. Otherwise, the consolidation of the pair above 1.1250 will indicate a reversal of a two-week downtrend.
Read also: “Long-term investments in currency pairs! The EUR/JPY pair”
Hanzenko Anton
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