EUR/USD today: the euro is preparing to resume the growth

From the start of the day, the EUR/USD pair has been trading downward on the correction of the American currency and movement against Thursday, according to the results of which the pair is at the level of 1.1480. At the start of the day there were traced an attempts of the euro to increase, and the high was renewed, but buyers could not develop growth and it provoked a correction.

Events for today:

• 15:30 – a report on the US GDP will be released : non defense capital goods shipments (excluding aircraft) (m/m), core durable goods orders (m/m) (November), GDP (q/q) (Q3.) and the GDP deflator (q/q) (Q3).
• 17:00 – US data will be released: core price index of personal consumption expenditures (y/y) (November), core price index of personal consumption expenditures (m/m) (November) and personal  spending (m/m) ( Nov).
• 20:00 –  number of Baker Hughes oil rigs in the United States will be released.

Closing the week also promises to be rich in statistics, especially in the USA. The main driver of the market are risks that increase with a decrease in liquidity before the holidays.

The pair EUR/USD after the correction in the first half of the day approached the significant support of 1.1420-00, which corresponds to the lower limit of the ascending channel. In the context of renewed pessimism against the dollar, we can expect the resumption of growth of the pair with a test of resistance at the levels: 1.1450-70 and 1.1500.

Read also: “Momentum indicator is a great assistant in trade”

Hanzenko Anton

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