EUR/USD today: euro receives support from ambiguous data on employment in the US
After Friday’s report on employment in the US, which turned out to be highly ambiguous, and thereby increased market concerns before the meeting of the US Federal Reserve, the pair EUR/USD receives support. As a result, the pair EUR/USD is trading near the highs of Thursday and limited to the level of 1.1800.
Events for today:
- 17:00 – publication of the number of open vacancies in the labor market (JOLTS) in the USA.
The day is not full of news, besides, the market is still focused on the forthcoming meeting of the US Federal Reserve that will be held this week.
Given the preservation of the correctional movement for the American, one should expect further growth of the pair EUR/USD, but only with the formation of a deeper correction in the dollar and breakthrough of the level of 1.1800. This will eventually open the way to the levels 1.1830 and 1.1860. The renewal of the low at level 1.1760-50 will cancel the scenario for strengthening and will return the pair in a downward trend to the support levels: 1.1750 and 1.1730.
Fig. EUR/USD. The current price is 1.1790.
Hanzenko Anton