EUR/USD today: the pair remains in an uptrend
After moderate growth on Wednesday due to the weakness of the American, the pair EUR/USD accelerated growth on the decline in yield of the US state bonds at the beginning of the day. As a result, expectations for the strengthening of the pair were justified.
Events for today:
- 15:30 – data on the US: the balance of foreign trade in the US goods and the number of initial applications for unemployment benefits in the US.
- 16:45 – release of the index of business activity (PMI) in Chicago (USA).
- 18:00 – publication of data on oil reserves in the US.
Despite the stability of the uptrend in the pair EUR/USD, the liquidity of the market is low, which can cause unjustified sharp movements in the market. Considering the significant overbought of the pair and the oversold of the American as a whole, it was worth expecting a correction.
The EUR/USD remains limited by the maximum of the month’s opening at the level of 1.1950-60, from which correction may occur. Given the low volume of trading, uncertainty remains in the market. If the US dollar depreciates, the pair’s growth will be limited by the levels: 1.1950-60 and 1.1980. Support is located at the levels: 1.1890-80 and 1.1860-50.
Fig. EUR/USD. The current price is 1.1930.
Hanzenko Anton