EUR/USD today: the pair maintains a downward dynamic
The EUR/USD pair accelerated the decline on the correction after trading on Thursday, which closed with growth of EUR/USD. The reason for the weakness of the US dollar was the weak U.S. retail sales data and the growth of market pessimism before the US-China trade talks. Friday trades opened with the return of the pair to yesterday’s lows 1.1250.
Events for today:
- 15:30 – data on retail sales in the United States will be published: core index of retail sales (m/m) (December), price index for exports (m/m) (January), price index for imports (m/m) (January), NY Empire State manufacturing activity index (Feb) and retail sales (m/m) (December).
- 16:15 – industrial production (m/m) (January) in the United States will be announced.
The day is also full of data on the United States, which can have a significant impact on the American dollar. More significant are the data on trade negotiations, which will affect all market.
The EUR/USD pair continues to maintain a downtrend, indicating a downside potential. A significant support level of 1.1250-70 and fundamental risks add uncertainty to trading. Significant resistance is located at levels: 1.1300 and 1.1330. We can expect a test of support levels: 1.1220 and 1.1200 in the case of breakthrough of support 1.1250-70.
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Hanzenko Anton
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