EUR/USD today: euro keeps rising
As it was expected after a short correction, the pair EUR/USD continued to grow. At the same time, the main drivers of the dollar’s decline were the political risks in the US around the presidential election, which continue influence the market.
Events for today:
- 17:00 – statistics on real estate sales in the US.
- 17:30 – data on oil inventories in the US.
- 21:00 – FOMC meeting minutes will be published.
The main event of the day is the publication of the FOMC meeting minutes, which will be expected to hint at a further rates increase in the US.
EUR/USD remains overbought, but also the US dollar remains under pressure, which is awaiting the results of the US-China talks on the trade agreement and exacerbated political risks in the US. As a result, the further growth of the EUR/USD pair is possible on a deeper American dollar decline .
So, for EUR/USD the level 1.1600-10 is a significant resistance, the breakthrough of which will open the way to 1.1630 and 1.1650. In the conditions of correction it is necessary to wait for the support test: 1.1550 and 1.1500.
Read also: “Emerging Markets and Their Prospects: Mexican Peso (MXN)”
Hansenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- Stock indices : Asia-Pacific region
- Collapse of the Turkish lira. A threat to the market!
- Medium-term prospects for the US dollar for August-September
Current Investment ideas: