EUR/USD today: the euro is under the pressure

After restrained trading at the start of the day, the EUR/USD pair accelerated the decline. The reason for the accelerated decline in the pair was the resumption of the decline in stock indices in Europe, which was partly caused by the exacerbation of the situation with Brexit.

Events for today:

• 15:30 – US data block will be released: core retail sales index (m/m) (December), export price index (m/m) (December), import price index (m/m) (December) and  retail sales (m/m) (December).
• 17:00 – business inventories (m/m) (November) in the United States.
• 17:30 – data on oil inventories in the United States.
• 21:00 – the Beige Book of the Fed will be released.

The day today is full of statistics, but geopolitics is the main driver of the market. Rather, geopolitical risks that remain open.

The EUR/USD pair has accelerated the decline, indicating a downward dynamic, which is limited by support levels: 1.1380 and 1.1340. In conditions of uncertainty, we can expect a correction, which can be expressed in flat. Deals for sale should be considered after the correction and on the rebound from resistance: 1.1400 and 1.1420.

Read also: “5 candlesticks pattern rule. Candlestick analysis.”

Hanzenko Anton

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

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