EUR/USD today: the pair slowed down

The EUR/USD pair has been trading in different directions from the start of trading on Friday, limiting from lateral dynamics from 1.1050 to 1.1020, actually trading in the flat on correction after growth and waiting for the US employment data.

Events for today:

• 15:30 – the US employment report will be released: average hourly earnings (m/m) (Aug), nonfarm payrolls (Aug), private nonfarm payrolls (Aug) and unemployment rate (Aug) .
• 19:30 – Fed Chairman Mr. Powell will speak.

The US employment data remains to be the main event of the day, which may cause both the recovery of the American dollar after a long decline and the return of pessimism about the American dollar. Separately, it is worth to note the Fed Chairman Powell speech, which can add additional volatility to the American dollar.

The EUR/USD pair is trading in a sideways trend from 1.1050-60 to 1.1020-00, which is likely to persist until the release of the US employment data. But, despite the expected data, the EUR/USD pair slowed down and moved on to a correction. So, to consolidate the pair below 1.1010-00, we should expect a resumption of decline to support levels: 1.0950 and 1.0620. A return to resistance levels: 1.1060 and 1.1080 cancels expectations for a decline.

Read also: “U.S. and E.U. Trade War”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

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