EUR/USD today: a pair is waiting for the US Federal Reserve meeting minutes

After multidirectional trading on Wednesday, caused by the US mid-term elections, the EUR/USD pair remains to trade at the opening of the day, limited to the uptrend and optimistic expectations for the dollar. The zone of uncertainty is located in the range from 1.1400-10 to 1.1450-40.

Events for today:

• 15:30 – initial jobless claims in the United States.
• 21:00 – the US Federal Reserve meeting minutes.

The main event of the day will be the publication of the US Federal Reserve protocol, where investors will look for hints of rate hikes.

In terms of maintaining optimism on the American dollar, positive expectations from the Fed and restraint of stock indices, we can expect further strengthening of the US dollar against the euro, but only in terms of fixing the EUR/USD pair below 1.1400 support, which will indicate a correction against the two-week growth of the pair. Significant support is located at levels: 1.1350-30 and 1.1300. The resistance is the marks: 1.1430 and 1.1450, breaking through which will maintain the uptrend.

Read also: “Trade in currency baskets”

Hanzenko Anton

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