EUR/USD today: the pair went into correction phase

After trading on Monday, the pair EUR/USD closed the day with noticeable growth on reduction of the risk of a trade war between the US and China, which led to an increase in the strengthening of risky assets. As a result, the pair EUR/USD updated the maximum of March. Moreover, the further growth of the pair is limited by overbought and the upper limit of the monthly uplink.

Events for today:

• At 16:00 – the S&P/CS Composite-20 (USA) composite residential price index without seasonal fluctuations (y/y).
• At 17:00 – the index of US consumer confidence from CB.
• At 23:30 – a weekly supply of crude oil in the US according to the American Petroleum Institute (API).

Market attention is still confined to US trade relations and general market sentiment.

Correction of the US currency and this pair was caused by the return of investors to the American and the subsequent correction, which is likely to intensify with the positive opening of US stock exchanges. At the same time, the main support is 1.2410, the breakthrough of which will open the way to the levels of 1.2370 and 1.2350. Resistance is located at the levels: 1.2440 and 1.2460.

Fig. EUR/USD. The current price is 1.2410.

Hanzenko Anton