EUR/USD today: the euro remains under the pressure despite a decline in optimism

The EUR/USD pair remains under the pressure from the American dollar, despite a decrease in optimism in the market regarding the US – China trade agreement. Earlier, the growth of optimism was caused by the expectation of a trade deal between the US and China and the partial lifting of trade sanctions. But the optimism of the market declined, and stock indices switched to a downward correction, which indicates the possibility of correction for the American dollar.

At the end of the week, the economic calendar remains virtually empty. The main driver of the market will be the general mood and the possibility of technical correction.

The EUR/USD pair remains under the pressure of a downtrend, but is limited by oversold and lack of drivers. The resistance for this pair are the marks: 1.1050 and 1.1070. Further decline in the pair is also limited by declining activity and support levels: 1.1000 and 1.0980.

Read also: “G20 Summit – what to expect and to beware of”

Hanzenko Anton

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