EUR/USD today: pair is in uncertainty
At the trades on Thursday the pair EUR/USD continued to grow, which was caused by positive statistics in the euro area and euro support through cross-rates. The decline of the American was caused by the negative leave for a long weekend, which aroused fears of the Fed regarding inflation in the US. Yesterday’s expectations was not confirmed, but the pair is limited by resistance level 1.1860-80.
Events for today:
- 11:30 – publication of the number of approved BBA mortgage loans in the UK.
- 16:45 – release of data on business activity in the US.
The EUR/USD is in considerable uncertainty due to continued growth and a monthly maximum update. While this pair remains below 1.1860-80, a significant probability of resuming the downtrend remains. Otherwise, a downward trend may be reversed with further growth to psychology 1.2000. Given the low activity of the market and the lack of a clear picture, it is probably too early to make a conclusion. Therefore, for today the pair EUR/USD is expected to trade in the range from 1.1820-40 to 1.1880-1.1900.
Hanzenko Anton