EUR/USD today: the euro is under the pressure of correction

From the start of the day, the EUR/USD pair has been trading at the opening of the day level, thereby slowing down the upward trend and forming attempts of correction against yesterday’s growth at the US Federal Reserve meeting results. The growth of pessimism in the market to some extent contributes to the strengthening of the dollar on risks.

Events for today:

• 14:30 – the US data will be released: core price index for personal consumption expenditures (y/y) (September), labor cost index (q/q) (Q3), initial jobless claims, price personal consumption expense index (m/m) (September) and individuals’ expenses (m/m) (September).

The EUR/USD pair is limited by a downward correction. The publication of the US retail sales data and the expectation of the US employment report could strengthen the American dollar recovery. Significant support for the pair are the levels 1.1130 and 1.1100, which will limit the downward correction. The resumption of growth is possible on the recovery of optimism in the market, but it will also be limited by resistance levels: 1.1180 and 1.1200.

Read also: “Trade war. Relations between Japan and South Korea “

Hanzenko Anton

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