EUR/USD today: the euro is growing on a correction against Friday

EUR/USD closed Friday’s trading session with a weekly low on weak data for the euro area and a general dollar’s growth on increased risks. Monday’s trading opened with a move against Friday, as a result, this pair won back part of the lost positions against Friday.

Events for today:

• 16:00 – the speech of the ECB President Draghi.
• 20:30 – the speech of the Bank of England  Governor Carney will take place.

With the positive opening of trading on stock exchanges, the demand for risky assets increased. At the same time, the possibility of resuming risks remains.

EUR/USD pair remains in the correction phase, limited to the downtrend. In the context of renewed risks and maintaining a downward trend, we can expect a further decline in this pair. The sales area is located below the mark: 1.1360, resistance is the upper limit of the downward channel: 1.1380 and 1.1400. Significant support is located at levels: 1.1330 and 1.1300.

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Hanzenko Anton

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

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