EUR/USD today: the euro continues its growth on the weaknesses of competitors

On Tuesday the trades closed with the growth of the EUR/USD pair, which was caused by the persistence of pessimistic sentiment in the market about the upcoming Fed meeting. Also, the euro was supported by the weakness of the British pound before the vote in the British Parliament regarding the “B” plan for Brexit, which will be held today. As a result, the single currency continues to strengthen against most competitors.

Events for today:

• 15:30 – goods trade balance (November in the United States.
• 16:00 – S&P/CS Composite-20 housing price index non-seasonally adjusted (y/y) (November) in the USA.
• 17:00 – CB consumer confidence index  (January) in the United States.
• 23:30 – API Weekly crude oil stocks  in the United States.

The day today is very full of statistics on the United States, but the main attention of the market will be on the political factors. So, today the market will expect the results of the vote on the Brexit deal and follow the overall geopolitical risks.

The EUR/USD pair maintains an upward trend in the formation of a narrow upward channel, limited to overbought. In the face of risk preservation, the pair will continue to grow, but will directly depend on geopolitical risks. Support levels are located at the levels: 1.1420 and 1.1400, resistance: 1.1470-80 and 1.1500.

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Hanzenko Anton

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

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