EUR/USD today: the American dollar demonstrates growth on risk renewal
Monday trades opened with a movement against Friday, when the US currency closed lower, that was caused by ambiguous employment data in the United States. The European session on Monday opened with a move against Friday, which was caused by an accelerated decline in stock indices. The reason for negative sentiment was China’s actions to reduce the risks of trade confrontation with the United States, which became a driver for the expectation of a new wave of trade confrontation and an increase in pessimism in the market.
At the beginning of the week, the economic calendar remains empty, and the market driver will be stock indices and general market sentiment.
The EUR/USD pair returned to the downtrend on the return to the level of 1.1500, confirming the downtrend. It is also worth noting that to continue the decline of the EUR/USD pair, it is necessary to overcome the significant support of 1.1450. In the zone 1.1440-70, the formation of a correction is possible, which will be limited by the downward trend.
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Hanzenko Anton
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