EUR/USD today: the euro is corrected on the renewed optimism

At the trading on Thursday, the EUR/USD pair updated the weekly maximum at 1.1610, thereby justifying yesterday’s expectations for this pair. With the positive opening of stock indices in Europe, the EUR/USD pair moved to a correction, thereby slowing the uptrend. At the same time, a significant support limiting the resumption of decline is the level of 1.1570-80.

Events for today:

• 15:30 – data on prices for export and import to the USA .

After a two-day collapse of stock indices, their correction will be regarded as a significant driver for an increase in optimism, which will also affect this pair and may trigger a correction for the US dollar after a decline.

EUR/USD continues to trade in an uptrend, limited to resistance 1.1600-20 and support 1.1570. With further growth of stock indices, the US dollar may accelerate the correction, which after breaking through the support will open the way to the support levels: 1.1550-30.

Read also: “On the Forex Waves: Reserve Bank of Australia”

Hanzenko Anton

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