EUR/USD today: the euro is correcting against the Friday decline, but maintaining a downward trend

At the opening of the new working week, the EUR/USD pair is trading with a strengthening on the correction after Friday’s decline and positive data for Germany. Despite a significant correction, the euro remains under the pressure due to pessimism.

At the start of the week, the economic calendar remains empty, and market activity is very low. Because of what the market will continue to remain in the grip of correctional sentiment.

EUR/USD will be limited to resistance levels: 1.1340 and 1.1360 despite the growth from the start of the day. These resistance levels are expected to rebound with the resumption of decline. Support is located at levels: 1.1300 and 1.1280. The main factor reducing this pair are the risks for Brexit and the exacerbation of tension in the US-China trade relations, which will set the mood in the market.

Read also: “It is easy to become rich, but try to stay rich.”

Hanzenko Anton

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