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

On Friday trades the EUR/USD pair closed the day with a rise on a weak employment data in the US and risks in the US-China trade confrontation. As a result, the pair updated the weekly high at 1.1420-30. With the growth of pessimism in the market and aggravation of relations between the US and China, the upward trend of EUR/USD has accelerated, but with the opening of the European session, a correction has been traced.

Events for today:

• 17:00 – will release the number of open positions in the JOLTS labor market (Oct) in the USA.

The main driver of the market continues to be data on US trade relations and market sentiment.

It is worth expecting a further decline in the US dollar against the euro in the conditions of maintaining the existing situation. As a result, the EUR/USD pair will break through the resistance 1.1440-30 and continue the upward trend to the resistance levels: 1.1480 and 1.1500. Significant support is located at levels: 1.1410-00 and 1.1380, the update of which will indicate the formation of a correction against Friday.

Read also: “The collapse of Bitcoin : what one should expect? The answer in the history of price changes “

Hanzenko Anton

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