EUR/USD today: the euro doesn’t hurry to recover

From the start of the day, the EUR/USD pair has restrained steadily on the correction after the decline, which is helped by a decrease in optimism on the stock exchanges and a technical weakening of the US dollar after a two-day growth.

The EUR/USD pair maintains a downward trend and a downside potential despite attempts of correction. So, significant resistance are the levels: 1.1090-1.1100 and 1.1120. The driver to further reduce the pair remains the preservation of positive expectations on the US – China trade talks and the formation of a “double top” on the H4 timeframe. A resumption of the decline can be expected on the return of the pair to the level of 1.1070-50, which will open the way to the support levels: 1.1010 and 1.0970.

Read also: “The ECB is preparing a stimulus package”

Hanzenko Anton

---

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

Topical articles of the trader’s blog:

1. Upward dynamics of gold, resumption of growth or correction before the decline
2. Increased transportation costs: a driver for rising oil prices
3. An uncertainty about Brexit is increasing

Current Investment ideas:

1. Several reasons to buy Cisco Systems, Inc. shares in October. Let’s earn Together!