EUR/USD today: the dollar demonstrates growth attempts

Trading on Friday closed with the growth of the pair EUR/USD, which was due to lower risks and correction of positions in the dollar. At the Asian and European sessions, the positive dynamics of the stock indices can be traced, but the pair demonstrates the movement against Friday.

Events for today:

• At 19:00 – the speech of the President of the Bundesbank Weidmann will take place.

The main driver of the market are the expectations of the results of the meeting between American and Chinese representatives, which discussed trade relations. So, earlier it was expected that on August 23 new US duties will come in at $ 16 billion. China said that it would respond with similar actions. As a result, the market expects data on the meeting, which can clarify the future of the trade confrontation between the US and China. Strengthening the US dollar indicates a decline in the belief that the US and China will find a compromise.

The pair EUR/USD is trading with a decrease on the move against Friday, limited to the support level 1.1400, the breakout of which will open the way to the marks: 1.1380 and 1.1350-60. This will indicate the resumption of a downtrend. Significant resistances are the marks: 1.1430 and 1.1450.

Read also: “Carry trade –  the earning startegy  on cross-rates”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. Collapse of the Turkish lira. A threat to the market!
2. Medium-term prospects for the US dollar for August-September
3. Emerging markets and their prospects: Chinese yuan (CNH or CNY)

Current Investment ideas:

1. Preparing to have profits on an optimistic report of Alcoa Inc.!
2. On weak reporting of Boeing shares we can get a strong income!