EUR/USD today: the euro is under pressure
After the moderate trading on Thursday and the Asian session on Friday, the EUR/USD pair accelerated the decline in the publication of weak data on PMI in the eurozone. Against the background of reduced activity and the growth of optimism for the US currency, a test of significant support of 1.1350 can be traced.
Events for today:
- 16:45 – a report on business activity in the US: manufacturing business index (PMI) (November), Markit composite index of business activity (PMI) (November) and business sector index (PMI) in the services sector (November) .
Today in the USA there will be a short day, so it is worth expecting a sharp decline in activity by the end of the day. In this case, the report on business activity in the United States will also have a significant impact on the US currency.
Investors continue to buy US currency on positive expectations for US business activity. EUR/USD on the sale of the euro forms a weekly downward dynamics, limited to support levels: 1.1330 and 1.1300. Resistance is located at levels: 1.1370-60 and 1.1390.
Read also: “Interesting stories from the world of finance”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- An engulfing strategy. A Trend reversal.
- Gold is limited to annual correction! What to expect?!
- The Australian dollar (AUD) is in anticipation of the annual correction! What to expect?!
Current Investment ideas: