EUR / USD today: American dollar continues its correction

After the multidirectional trading on Monday, the EUR / USD remains under pressure of correction and restoration of the American dollar. As a result, this pair managed to exit the upward trend, which was formed last week.

Events for today:

• 17:00 – a number of open vacancies in the labor market (JOLTS) in the USA
• 23:30 – weekly stocks of crude oil in the US according to the American Petroleum Institute (API).

Against the background of the recovery of the US currency, this pair remains under pressure, which in the end may cause a refraction or a significant slowdown in the existing trend.

The pair EUR / USD remains above 1.1700-20, maintaining its upward momentum and may resume its growth. Therefore, it is possible to resume the upward movement from support levels: 1.1700 and 1.1730. Strong resistance is the marks: 1.1770 and 1.1800-20. The main support is located at the levels: 1.1700 and 1.1680, consolidation below which will call into question the safety of the upward dynamics.

Read also: “5 financial advice to traders for 2018!”

Hanzenko Anton

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

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