EUR/USD today: is under pressure of correction
Wednesday trades are multidirectional on the EUR/USD pair, that caused by low liquidity and ambiguous moods. From the start of the day, this pair has updated a high of 1.1490, but after it moved to a correction on the negative opening of trading in Europe.
The economic calendar for today is empty after the publication of data on business activity in the manufacturing sector (PMI) in Europe, but the market had not actually reacted on it.
The EUR/USD pair is trading lower on the return of negative sentiment to Europe due to the collapse of the British pound. Further reduction of this pair is limited to the support of 1.120-30, which can be broken off. Fixing a pair below this support will open the way to support levels: 1.1400 and 1.1380, which may be caused by persistence of pessimism in Europe. Resistance is located on the marks: 1.450 and 1.1480-90.
Read also: “The Australian dollar (AUD) is in anticipation of the annual correction! What to expect?!”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- Top 5 books on trading. Read and progress!
- Happy New Year! Summing up the past year.
- The S&P 500 index as a market sentiment index!
Current Investment ideas: