EUR/USD today: the euro is recovering, limited to risks
After the rapid decline of the EUR/USD pair yesterday on the resumption of the risks of a trade war and positive data for the US, today there is a restrained correction against the decline. Euro support for the recovery is provided by positive inflation data in the Eurozone.
Events for today:
- 15:30 – the US data will be released: building permits (m/m) (June) and housing starts (June).
- 1:00 – the “Beige Book” of the US Federal Reserve will be published.
The main driver of the market in addition to the published data are the risks of resuming the US-Chinese trade war. The US dollar continues to receive support against the backdrop of what.
EUR/USD, after a decline, remains in the correction phase, limited to the level of 1.1220-30. On risk reduction, the possibility of a recovery of the euro against the dollar to resistance levels: 1.1240 and 1.1260 is not excluded The return of the pair to the support levels of 1.1210-00 will indicate the preservation of the potential for decline.
Read also: “The collapse of Bitcoin: What one should expect for?
The answer in the history of price changes”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- The trade war. Relations between Japan and South Korea
- The Japanese yen: expectations and prospects.
- US and China return to the negotiation table
Current Investment ideas: