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EUR/USD today: the euro is limited by overbought
The EUR/USD pair is trading near a significant resistance of 1.1150-60, limited to flat and overbought. The reduction of risks around the possibility of a hard Brexit provided the main support for this pair. The growth of pessimism on European stock exchanges is associated with mixed data on China. It also supports the euro as a safe haven currency.
The economic calendar for today is virtually empty. The focus of the market is focused on approving the Brexit deal in the UK Parliament.
The EUR/USD pair maintains the upward trend, limited by overbought and resistance 1.1150-60. The euro is supported by market risks and optimism by Brexit. But also this pair remains limited overbought. In the future, this should cause a correction and formation of a flat. It is also worth noting the end of the trading week and a significant vote in the UK Parliament, which will be held on Saturday. Against this background, correction is possible. Significant resistance is located at the levels: 1.1160-50 and 1.1180, support: 1.1080 and 1.1050-40.
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Hanzenko Anton
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