EUR/USD today: limited by a side triangle
The EUR/USD pair continues to trade in flat from 1.1250-30 to 1.1170-50 despite the growing optimism and restrained recovery of the Americandollar. In addition, market uncertainty and tensions around US-China trade relations remain a significant limiting factor for the market.
Events for today:
- 15:30 – initial jobless claims in the United States will be announced.
Today is a very calm day. The new data on the trade war may trigger a growth of activity in market. The main driver of trading remains the general market sentiment.
The EUR/USD pair is trading flat for the third day. As a result, the pair formed a lateral triangle, which can be a signal of both a reversal and continued growth. Significant resistance zone is located at the level of 1.1230-40, support: 1.1180-70. While the euro dollar remains in the triangle, it is worth taking a waiting position, despite the tendency of the pair to reduce.
Read also: “Safe assets and how to trade them in the Forex market”
Hanzenko Anton
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