EUR/USD today: the euro remains under pressure from the American dollar

With the opening of trading on Monday, the EUR/USD pair showed a moderate growth on the correction against Friday, but with the negative opening of the European stock indices, the pair resumed its decline. The reason for the weakening of the pair was the preservation of optimism about the American dollar on the positive statistics for the United States and the preservation of the downward dynamics.

At the start of the week, the activity on the market is very restrained, and besides, in the USA today is a day off, which will make trading by the end of the day low active.

The EUR/USD pair on the rise in pessimism is trading lower, limited to significant support 1.1150-60. A break of this level will indicate the preservation of the downward trend and will call into question the three-month uptrend. Resistance is located at levels: 1.1380 and 1.1400, from which a rebound is expected.

Read also: “Candlestick analysis. Continuation patterns. Part 2”

Hanzenko Anton

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