EUR/USD today: the pair remains in a downtrend
On Monday, expectations about the correction were not justified. The pair EUR/USD in contrast has updated the monthly minimum on the growth of the yield of the state US bonds and preservation of negative sentiments on euro.
Events for today:
- 11:00 – data on Germany: the index of business expectations in Germany, an assessment of the current situation in Germany and the index of the business climate IFO Germany.
- 15:00 – the index of industrial orders (CBI) in the UK.
- 16:00 – Composite index S&P/CS Composite-20 (USA) of the cost of housing without taking into account seasonal fluctuations (y/y).
- 17:00 – data on the US: the US consumer confidence index from CB, the sale of new housing in the US and the sale of new housing in the US (m/m).
The day is full with statistics on Europe and the United States.
Morning movement of the American and the pair EUR/USD in a narrow sideways trend slightly overshadowed the pair’s oversold, thereby opening the possibility for a new decline, which may be caused by the growth of optimism for the American, US bonds or stock exchanges. At the same time, the main support level for this pair is the level 1.2170-50, which corresponds to the lower boundary of the two-month downlink. But also it is necessary to take into account a significant overbought of the American, which can tighten the flat.
Fig. EUR/USD. The current price is 1.2210.
Hanzenko Anton