EUR / USD today: the euro remains optimistic

After yesterday’s statements by ECB representative Prat about the prospects of curtailing the incentive program to the euro area, the euro continues to strengthen across the entire spectrum of the market, also receiving support from the growth of optimism and the positive dynamics of stock exchanges.

Events for today:

12:00 – the GDP of the eurozone will be published.
15:30 – the number of initial applications for unemployment benefits in the US will be published.

The main driver of the market are rumors regarding the curtailment of the stimulating measures of the ECB. It is worth noting the forthcoming publication of data on GDP in the euro area.

Given the significant overbought pair EUR / USD and the euro as a whole, further growth of this pair can be difficult. Restrained or negative data on the GDP of the eurozone can become a driver for the correction of the euro. In this case, the main resistance for the pair is located at the level of 1.1840-60, from which correction is expected. More significant resistance is the level of 1.1880, support: 1.1800 and 1.1760-50.

EUR / USD Graph. The current price is 1.1830.

Read also: “Popular Forex Tools: Fibonacci Channel”

Hanzenko Anton