EUR/USD today: the euro is under the pressure of working out the “double top”

After trading on Monday, the EUR/USD pair reached a significant support level of 1.1280, which corresponds to the level of working out the “double top” pattern on the daily chart. Pressure on this pair was exerted by the general strengthening of the American currency caused by the reduced risk of the re-closing of the US government and the expectation of the US – China trade talks.

Events for today:

• 15:00 – will be the speech of the Bank of England Governor Carney.
• 17:00 – JOLTS job openings (December) United States will be announced.
• 19:45 – Fed Chairman Powell will speak.

The day today is very full of speeches by the heads of world central banks. In this case, the main driver of the market are the general sentiment and optimism for the American dollar.

The EUR/USD pair has reached a significant support 1.1280-50, the breaking of which downward will indicate a continued decline of the euro against the dollar. It is also worth noting a significant oversold of this pair, which in the short term may cause a correction to resistance levels: 1.1300 and 1.1330. Support levels are located at the levels: 1.1220 and 1.1180.

Read also: “Fundamental Analysis: Report on Employment and its Impact on the Dynamics of the National Currency”

Hanzenko Anton

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