EUR/USD today: the market is in the mercy of sentiments
At the start of the day, the EUR/USD pair opened up on correction against Friday’s decline, forming a movement against Friday. Weak statistics on exports and imports of China returned pessimism to the market, returning investors to safe assets and increasing demand for the American dollar, which was reinforced by the weak data for the eurozone.
The beginning of the week remains quite restrained in terms of news, remaining under the pressure of geopolitical risks that have returned investors to safe assets.
The EUR/USD pair is trading down, limited to the trading channel. At the same time also limited to oversold, which may indicate a correction and growth attempts. In the conditions of the downtrend preservation, the potential for reduction remains. As a result, deals for sale should be considered from resistance levels: 1.1480 and 1.1500. Significant support levels are: 1.1430 and 1.1400.
Read also: “Fibonacci lines and trade in crypto-currency. Application.”
Hanzenko Anton
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