EUR/USD today: the euro is waiting for correction

Trading on Thursday closed with a restrained decline and updating the low at the level of 1.1320. Despite the fact that the EUR/USD pair managed to renew the low and maintain the downward trend, the overall interest in the US dollar clearly declined on the statement that the US-China trade negotiations would not take place until March. As a result, investors moved to safe assets, and the American dollar may be under the pressure of correction at the end of the week.

The economic calendar today is virtually empty, so the influence of general sentiment in the market will be felt more strongly.

EUR/USD pair remains under the pressure of weekly downward dynamics, limited to the attempts of correction. At the end of the week, the possibility of a dollar correction after growth significantly increased at the close of long positions on the American dollar. Test of resistance levels: 1.1370 and 1.1390  is expected. Support is located at the levels: 1.1330 and 1.1300.

Read also: “Emerging markets and their prospects: Mexican peso (MXN)”

Hanzenko Anton

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