EUR/USD today: euro is in anticipation of ECB report
Trades on Wednesday ended with a general decline in the US currency across the entire spectrum of the market. The EUR/USD also gained appreciable support on the weakness of the American. But, in comparison with the euro pound was traded very limited, which was caused by the expectation of publication of the ECB protocol and Draghi’s speech, which limited investors regarding the euro.
Events for today:
- 11:00 – publication of data on business expectations in Germany.
- 11:30 – announcement of the gross volume of approved mortgage loans in the UK.
- 14:45 – publication of the results of the ECB meeting.
- 15:30 – publication of data on the US: the balance of foreign trade in US goods and the number of initial applications for unemployment benefits in the US.
- Also, at 15:30 – a press conference of the ECB.
- 17:00 – announcement of the data on the sale of new housing in the US.
The day is very full of news, but the main event of the day and week is the publication of the ECB protocol and the press conference of M. Draghi.
While waiting for the ECB protocol and Draghi’s speech, investors are actively adjusting positions regarding euro, which supports correction of the American. As a result, the support test is possible: 1.2360 and 1.2330-00. At the same time, the descending dynamics of the American persists, limited to correction.
For today, there are no expectations for the euro due to the upcoming news on the euro area and the high volatility that they can cause. The main support levels: 1.2350-40, 1.2300 and 1.2280-60, resistance: 1.2430-50, 1.2500 and 1.2540-50.
Fig. EUR/USD. The current price is 1.2400.
Hanzenko Anton