EUR/USD today: the euro is limited by overbought

The EUR/USD pair is trading near a significant resistance of 1.1150-60, limited to flat and overbought. The reduction of risks around the possibility of a hard Brexit provided the main support for this pair. The growth of pessimism on European stock exchanges is associated with mixed data on China. It also supports the euro as a safe haven currency.

The economic calendar for today is virtually empty. The focus of the market is focused on approving the Brexit deal in the UK Parliament.

The EUR/USD pair maintains the upward trend, limited by overbought and resistance 1.1150-60. The euro is supported by market risks and optimism by Brexit. But also this pair remains limited overbought. In the future, this should cause a correction and formation of a flat. It is also worth noting the end of the trading week and a significant vote in the UK Parliament, which will be held on Saturday. Against this background, correction is possible. Significant resistance is located at the levels: 1.1160-50 and 1.1180, support: 1.1080 and 1.1050-40.

Read also: “Cryptocurrency market. What is happening now and what to expect ”

Hanzenko Anton

---

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

Topical articles of the trader’s blog:

1. What to expect from the Bank of England in the face of a tough Brexit
2. The results of the US-China trade talks
3. Cloudy prospects for the  oil market 

Current Investment ideas:

1. One more opportunity to earn in October! Sell ​​#CAT shares now!
2. Several reasons to buy Cisco Systems, Inc. shares in October. Let’s earn Together!
3. Technology giant Microsoft is getting ready to storm new highs! Let’s make money on it!