EUR/USD today: the dynamics of the pair and the market remains in captivity of sentiment
On Thursday trades closed with a restrained weakening of the American on weak statistics on the US and growing fears that were caused by the cancellation of the meeting of the United States and North Korea. As a result, this pair managed to update the maximum at 1.1750. Trades on Friday opened with a radical change in sentiment, which was caused by the news that Pyongyang is open to dialogue, which from the beginning of the day caused renewed optimism and the growth of stock exchanges. Ambiguous statistics on Europe only added ambiguities to the market.
Events for today:
- 15:30 – data on the US: the volume of shipments of US civilian goods (excluding aircraft), basic orders for durable goods in the US (m/m), the volume of orders for durable goods in the US (m/m) .
- 16:20 – the speech of the head of the Bank of England Carney.
- Also, at 16:20 – the speech by the head of the US Federal Reserve, Mr. Powell.
- 22:20 – the speech of the President of the Bundesbank Weidmann will take place.
The day is full of speeches by representatives of the Central Bank, which can add volatility to the already volatile Friday trading.
The EUR/USD continues to move in a downtrend, limited to the support level of 1.1690-70. Also over the past three days, the pair has formed a downward triangle, which may signal a resumption of a decline in this pair. But before the development of this figure, one should expect multi-directional trades within the limits of Thursday.
Fig. EUR/USD. The current price is 1.1710.
Also, read: “Figures Tech. Analysis: “Ascending” and “Descending” Triangle”
Hanzenko Anton