EUR/USD today: the euro keeps a downtrend - Ester Holdings
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EUR/USD today: the euro keeps a downtrend

With the negative opening of the European session on Wednesday, the pair EUR/USD appreciably strengthened on the resumption of negative sentiment and the decline of the American. The resumption of negative sentiment in the market also put pressure on risky assets, which limited the euro. As a result, the weekly downtrend remains in place.

Events for today:

  • 15:15 – the change in the number of employed in the non-agricultural sector of the US from ADP.
  • 16:45 – the index of business activity (PMI) in the US services sector.
  • 17:00 – data on the US: the volume of orders for durable goods in the US (m/m), the volume of industrial orders in the US (m/m), the index of employment in the non-manufacturing sector (ISM) and the index of business activity in the non-manufacturing sector (PMI) from the ISM.
  • 17:30 – data on oil reserves in the US.
  • 17:45 – a composite index of business activity (PMI) in the US from Markit.

The day is very busy with statistics on the US, among which is the data on the number of employees and activities in the non-production sector. The main driver of the market is the risks associated with the US trade war.

In conditions of renewed fears and the downward trend for the pair EUR/USD, one should expect the pair to fall to the support levels: 1.2250-60 and 1.2230. At the same time, the American growth may be limited by the same risks. The main factor in the decline of the euro remains its weakness in cross-rates. Resistance levels: 1.2320 and 1.2350.

Fig. EUR/USD. The current price is 1.2290.

Hanzenko Anton


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