EUR/USD today: EUR/USD pair is limited to overbought

At the opening of Monday trades, the EUR/USD pair maintains an upward trend in the growth of stock indices, limited to overbought. At the same time, the upward trend of last week remains in force.

• 17:00 – NAHB Housing Market Index (November) will be published in the USA.

Market dynamics remain more restrained, despite the growth of stock indices and the limitations of the American dollar. At the same time, investors continue to monitor the situation with Brexit and the dynamics of the British pound, which through crosses has an impact on this pair.

Technically, from the EUR/USD pair at the start of the week it was worth expecting a correction against Friday’s growth, but due to optimistic sentiment the dollar remains under pressure. At the same time, the strengthening of this pair is also limited by overbought, but remains in force. Deals on purchases should be considered from support levels: 1.1400 and 1.1370-80, and resistance is located at levels: 1.1450-80 and 1.1500. Purchasing area is located in the range of 1.1410-30.

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Hanzenko Anton

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

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