EUR/USD today: the euro continues its growth on the weakness of the American dollar

From the start of the day, the EUR/USD pair has been trading with a strengthening, which was caused by the growth of optimism in the stock markets. At the same time, despite the change in market sentiment, the expectations for euro growth came true.

Events for today:

• 15:00 – consumer price index (CPI) of Germany (m/m) (December) will be announced.
• 15:30 – goods trade balance  will be released (November).
• 16:45 – Publish PMI in Chicago (Dec) USA.
• 17:00 – a report on real estate in the United States.

This day  is very full of statistics at the end of the year, which may cause a significant movement on news publishing. In this case, the main driver for the sale of American dollar are political risks in the United States. And the growth of optimism in stock markets contributes to the recovery of risky assets.

The EUR/USD pair is overbought, which will limit its strengthening, despite the preservation of the upward trend. Significant resistance is located at levels: 1.1470-80 and 1.1500. Upcoming data for the United States should be assessed in the amount of moods and the opening of Wall Street stock indices. Thus, a decrease in optimism will cause a dollar correction before the weekend and a test of support levels: 1.1430-20 and 1.1390-70.

Read also: “Martingale Forex Strategy”

Hanzenko Anton

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

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