EUR/USD today: the pair retains the potential to strengthen

After Friday’s employment report in the US, the EUR / USD pair  is trading with a slight strengthening, which is helped by the general decline of the American dollar and correction in the stock markets. There are also a number of fundamental factors: the reduction of tension between North Korea and the United States, fears of a trade war and US protectionism set the mood on the market.

Events for today:

20:00 –  report on the implementation of the US federal budget will be published.

The day is not full of news today, but market continues to evaluate employment data in the US and the potential of the trade war.

In the conditions of restrained activity on the market, we should expect further growth of the EUR / USD pair to resistance levels: 1.2350 and 1.2400. At the same time support is made by the marks: 1.2300 and 1.2280. The longer the pair moves near these support levels, the more likely they are to break through.

In case of the EUR / USD pair’s inability to develop an upward movement with a fastening above the level of 1.2350, we should expect movement to the support levels: 1.2260 and 1.2230-00.

EUR / USD Graph. The current price is 1.2310.

Hanzenko Anton