EUR/USD today: the euro maintains a downtrend, despite attempts of growth

The EUR/USD pair at the opening of a new trading week is trading with a restrained strengthening on the technical correction after the decline on Friday and the weakening optimism on the US – China trade agreement. In this case, the weekly downward dynamics of this pair is maintained.

The EUR/USD pair, despite attempts of correction and the general weakness of the American dollar, remains under the pressure of downward dynamics, limited by resistance levels: 1.1040 and 1.1060. Further growth of the pair is possible with the support of fundamental factors. In the conditions of renewed optimism on the US – China trade talks, we should expect a resumption of decline to support levels: 1.1000 and 1.0980.

Read also: “What to expect from the Bank of England in the face of a tough Brexit“

Hanzenko Anton

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

Topical articles of the trader’s blog:

1. The trade war risks are coming back
2. Upward dynamics of gold, resumption of growth or correction before the decline
3. Increased transportation costs: a driver for rising oil prices

Current Investment ideas:

1. Several reasons to buy Cisco Systems, Inc. shares in October. Let’s earn Together!