EUR/USD today
Friday expectations regarding the EUR/USD pair fully justified . Besides this, the forecast is jistified (estimated profit of 30-40 points ). At the moment, the market continues to work out the movement against Friday, but is limited to Friday highs.
Events for today:
- 14:30 – Publication of a block of news on the USA: the basic price index of personal consumption expenditure in the US (y/y), the basic price index of personal consumption expenditure in the US (m/m), the cost of individuals in the US (m/m).
- 15:00 – An index of consumer prices (CPI) in Germany (m/m).
The economic calendar for today is almost empty, so the market will be focused on the data on Catalonia and the general mood of the market.
Given the growing negative expectations for the euro area, the pair EUR/USD is expected to resume downtrend from the resistance levels: 1.1640-50 and 1.1680. This will trigger a support test at support levels: 1.1570-50. The upcoming week is full of news and the market can begin to adjust positions on the threshold of important data, which will cause a decrease in activity and increase the possibility of a flat formation.
Hanzenko Anton