EUR/USD today: the pair remains under pressure
On Thursday, the pair EUR/USD accelerated the decline on the growth of the American, fascilitated by the growth of the yield of the US state bonds. With the negative opening of European stock indices, optimism about the American resumed, while the US bonds remained in place. The reason for the growth of the dollar remains excessive optimism and weakness of the European currencies. In particular, the British pound is under pressure after yesterday’s comments by the head of the Bank of England.
Events for today:
- 20:00 – a number of drilling rigs in the USA from Baker Hughes.
The day is full of speeches by representatives of the world’s Central Bank. Also, do not forget about the end of the week and the correction of positions that follow this.
The pair EUR/USD over the past two days has formed a downtrend and was in the oversold zone, which in the end could limit the further decline of the pair. The growth of the American remains unreasonable, therefore, from the level of 1.2300 it is necessary to revive the correction. With a break from the psychology of 1.2300 and 1.2280 resistance test is possible: 1.2350 and 1.2380.
Fig. EUR/USD. The current price is 1.2300.
Hanzenko Anton