EUR/USD today: the euro continues to grow - Ester Holdings

EUR/USD today: the euro continues to grow

The EUR/USD pair maintains an upward trend, despite the oversold of the US dollar over the market. Moreover, the main weakening of the dollar falls against European currencies: the pound and the euro. The driver for this remains the preservation of restrained positive moods and the weakness of the American dollar.

At the start of the week, the economic calendar is empty. Therefore, the main driver of trading will remain the general mood.

We should expect a correction against Friday in the conditions of a noticeable overbought from the EUR/USD pair. The reversal and resistance zone is located at the levels: 1.1060-80, from which we can expect a rebound. A downward correction and resumption of decline should be expected below the zone of 1.1040-30, which will open the way to support levels: 1.0990 and 1.0970. The main factor in the market movement is the general sentiment, which depends on trade negotiations between the US and China.


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Hanzenko Anton


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