EUR/USD is correcting, maintaining an upward dynamics

A correction movement against Friday is traced at the opening of the new work week after Friday’s weak jobs’ report in the US. It should be noted that the probability of lowering the US Federal Reserve rates remains. A EUR/USD pair continues to trade in an uptrend, fixing above the psychological mark of 1.1300.

Events for today:

• 17:00 –   JOLTS job openings will be announced (April) in the USA

The economic calendar for the afternoon remains quite restrained. Therefore, the general drivers of the market will be general sentiment and risks.

The EUR/USD pair continues to trade lower on the correction against Friday, but maintains an upward trend. This indicates the possibility of reversal and resumption of growth.

Deals for buy should be considered above 1.1120-40.

The resumption of upward dynamics will open the way to resistance levels: 1.1370 and 1.1400. Support and reversal zone is located at around 1.1300, the lower boundary of the ascending channel.

Read also: “Stock Indices of the Asia-Pacific Region”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. Cryptocurrency market. What is happening now and what to expect
2. The main reasons for the weakening of the US dollar. Fed’s rates cut
3. Should we expect the currency intervention from the Bank of Japan?

Current Investment ideas:

1. Where else, if not on the banking sector! Earn with an investment idea from an Ester company’s expert!
2. The best software for earnings on the technology giant’s Microsoft shares is inside! Connect!
3. Hewlett-Packard shares are ready to close the gap, and we are ready to close the profits!
4. Several reasons to buy Walmart shares. Use the chance to earn!