EUR/USD today: the euro slows its growth on the dollar's attempts to strengthen - Ester Holdings

EUR/USD today: the euro slows its growth on the dollar’s attempts to strengthen

From the start of the week, the EUR/USD pair continues to trade in the side trading channel from 1.1220 to 1.1170, confirming the uncertainty for this pair and maintaining the modest upward dynamic of recent weeks and the downward trend of recent months.

Events for today:

  • At 14:30 – the speech of the ECB President Draghi and the publication of the ECB monetary policy meeting minutes will take place.
  • At 17:30 – crude oil reserves in the United States will be announced.

The focus of the market today is focused on the speech of the ECB President Draghi, which may cause a noticeable increase in volatility in the euro.

The dynamics of the market and the pair EUR/USD depends on the general risks and the US dollar exchange rate. Expectations for the decline of the EUR/USD pair remain in force, despite the ambiguous technical picture. Significant resistance continues to be the zone 1.1220-30, in which a reversal is possible with a further decrease. Support levels are located at the levels: 1.1160-50 and 1.1130.


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Hanzenko Anton


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