EUR/USD today: the dollar remains optimistic
At the start of the day the pair EUR/USD with a slight strengthening on the correction and movement against Friday, which was also promoted by attempts to increase optimism in European stock exchanges. At the same time, the dynamics of the market remains restrained because of the day off in the US.
After the publication of very weak statistics on business activity in the manufacturing sector in Europe, the economic calendar remains empty. Statistics on business activity in the manufacturing sector in Europe, in spite of the weak values, was practically not accepted by the market. Restrained market drivers remain European stock markets, which show restrained growth, but are limited to low activity and risks.
Probably, the pair EUR/USD will maintain the existing sideways trend in the range from 1.1580-70 to 1.1620-30. At the same time, as the optimism on the stock markets increases, the movement may increase against Friday, with a test of resistance levels: 1.1650 and 1.1680. The support levels are: 1.1580 and 1.1550.
Read also: “Myths about the FOREX market, truth or fiction?”
Hanzenko Anton
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