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

Trading on Wednesday closed with a significant decline in the EUR/USD pair on positive US statistics and an increase in optimism in the market, as a result of which yesterday’s expectations for a fall in the pair were fully justified.

Events for today:

  • 15:00 – the index of consumer prices (CPI) in Germany (m/m).
  • 15:30 – the US news block: the basic price index for personal consumption expenditure in the US (m/m), the basic price index for personal consumption expenditure in the US (y/y), the number of initial applications for unemployment benefits in the US and the costs of individuals in the US (m/m).
  • 16:45 – the index of business activity (PMI) in Chicago (USA).
  • 20:00 – a number of drilling rigs in the USA from Baker Hughes.

The day is full of statistics, while the published data on UK GDP were very coolly received by the market.

The pair EUR/USD maintains a downtrend on strengthening of the American, but is also limited to oversold and significant support levels: 1.2280 and 1.2260. Also, the market retains some uncertainty over the upcoming US data, which is expressed by the formation of a flat. Weak statistics on the US and a break from the support levels can cause a correction. Resistance levels: 1.2350 and 1.2400.

Fig. EUR/USD. The current price is 1.2300.

Hanzenko Anton


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