EUR/USD today: the pair is adjusted after growth

After yesterday’s growth of the EUR/USD pair on the data that the Fed intends to abandon the rates hike, the American dollar was oversold significantly, opening the way to a correction. An additional factor to the recovery of the American dollar was the decline in stock indices associated with geopolitical risks.

Events for today:

• 14:30 – the ECB  monetary policy meeting minutes will be published.
• 15:30 – initial jobless claims in the United States.
• 19:00 – the speech of the Fed Chairman Mr. Powell will take place.

The economic calendar is full of events, among which the ECB protocol and the speech of US Federal Reserve Chairman Powell are particularly noteworthy. Powell speech  with soft rhetoric can resume the sales of the American dollar.

EUR/USD remains in the correction phase after yesterday’s growth, reinforcing the decline in negative sentiment that can be traced in stock markets. Correction of this pair will be limited to levels: 1.1510-00 and 1.1480. At the same time, it is worth noting that the uptrend persists, which indicates a resumption of growth at a break from support levels.

Read also: “The state of the Canadian economy and the perspective of an increasing the interest rate by the Bank of Canada”

Hanzenko Anton

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