EUR/USD today: the euro continues to grow on the dollar’s weakness
Maintaining optimistic sentiment regarding the US-China trade talks continues to put pressure on the US dollar. Also, an additional pressure on the American dollar had an increase in optimism regarding Brexit, which put pressure on the dollar by the British pound. The general rise in optimism is supporting risky assets due to the sale of the American dollar.
Events for today:
- 15:30 – the US data will be released: export price index (m/m) (September) and import price index (m/m) (September).
The main driver of the market continues to be the US- China trade talks, on which the dynamics of the market in general will depend.
The EUR/USD pair from the start of the day continues to strengthen on the weakness of the dollar, limiting itself to overbought. The growth of this pair is caused by the decline in the American dollar, which, in turn, is due to speculation around trade negotiations. Given the high market volatility in anticipation of the results of trade talks, the possibility of multidirectional fluctuations is not ruled out. It is worth to note that the pair remains significantly overbought. So, significant resistance is located at the levels: 1.1080, 1.1100 and 1.1130, support: 1.1030, 1.1000 and 1.0950.
Read also: “Political risks in the UK
increase the chances of Brexit without a deal ”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- Cloudy prospects for the oil market
- Risks of global economic slowdown are escalating
- What indicators choose Forex traders (Part 2)
Current Investment ideas: