EUR / USD today: keeps the potential for growth
At the trades on Monday, trades on the EUR / USD pair closed with growth after a break from support 1.2290, which justified expectations on Monday. In this case, the pair continues to be limited by resistance 1.2350.
Today events:
- 14:30 – will be published US inflation data: the basic consumer price index (CPI) in the USA (y / y), the base consumer price index (CPI) in the USA (m / m) and the consumer price index (CPI) in the USA ( m / m).
22:30 – will be published weekly reserves of crude oil in the US according to the American Petroleum Institute (API). - The focus of the market today will be focused on inflation data in the US. These news can play a very important role before the March meeting of the US Federal Reserve.
At the same time, the EUR / USD pair is trading in an uptrend, limited to upcoming US data. The main support level is located in the range from 1.2300 to 1.2320, the breakout of which will indicate a trend reversal. In conditions of preserving the trend from it, it is worth considering transactions for buy. Support levels: 1.2300 and 1.2260, resistance: 1.2350-70 and 1.2400-20.
EUR / USD Graph. Current price 1.2330.
Ganzenko Anton