EUR/USD today: the euro moved to correction - Ester Holdings

EUR/USD today: the euro moved to correction

Friday trades closed with a significant decline of the euro on the growth of concerns about the Italy’s budget, it triggered an updating minimum at 1.1570 by the EUR/USD pair. Correction before the weekend returned some of the lost positions of the euro. On Monday, the market continued the decline for the euro, but the positive opening of trading in the European session and positive statistics on the eurozone have returned optimism to the market, causing a correction for the euro.

Events for today:

  • 16:45 –  index of business activity in the manufacturing sector (PMI) (Sept) in the US.
  • 17:00 –  data on business activity in the US.

In the conditions of growth of optimism in the market it is expected a correction to resistance levels: 1.1630 and 1.1650 from the EUR/USD pair. General downward dynamics on the strangthening of the dollar  remains, but is limited to the support zone 1.1580-70.


Read also: “The most common mistakes made by trader. Know them and do not make “

Hanzenko Anton

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

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