EUR/USD today: the euro remains under the pressure

On Tuesday, the EUR/USD pair is trading at the opening level of the day. The pressure on the euro comes from the American dollar and most of the cross-rates, which is due to the expectation of  a soft monetary policy from the ECB, which will be held on Thursday.

Events for today:

• At 15:30 – the US data will be released: nondefense capital goods shipments (excluding aircraft) (m/m), core durable goods orders (m/m) (February) and  durable goods orders (m / m) (Feb)

The limiting factor in the decline of the EUR/USD pair is its oversold on higher timeframes and the growth of optimism in the stock markets.

General dynamics of the EUR/USD pair remains downward and is limited by psychological support of 1.1200. Fixing lower support will open the way for sellers to support levels: 1.1160 and 1.1120. The return of a pair above 1.1220-30 cancels down expectations.

Read also “Features of trading within a week”

Hanzenko Anton

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