EUR/USD today: a pair is near psychology 1.1800
On Monday the pair EUR/USD appreciably strengthened on the weakness of the American, despite the absence of obvious reasons. As a result, yesterday’s forecast was not relevant. In addition to the fact that the market expects adoption of tax reform in the US, and stock indices and state. bonds are trading above zero, the US dollar is weakened.
Events for today:
- 15:30 – announcement of the US data: the number of building permits issued in the US (m/m), the number of construction permits issued in the US, the current account of the balance of payments of the United States, the volume of construction of new homes in the US (m/m) and construction volume of new homes in the US.
- 23:35 – publication of weekly stocks of crude oil in the US according to the American Petroleum Institute (API).
The day is full of statistics on the US, but mainly the market will be focused on data on the tax bill in the US.
After yesterday’s growth of the pair EUR/USD, the market keeps an uptrend and some uncertainty, which is caused by the pair’s trading near the level of 1.1800. In turn, the pair remains limited by the range from 1.1780 to 1.1830.
Before the release of data on voting in the US regarding the tax reform, one should expect a movement in this range with attempts to correction against Monday. Support levels: 1.1750 and 1.1700, resistance: 1.1830-40 and 1.1850-60.
Fig. EUR/USD. The current price is 1.1800.
Hanzenko Anton