EUR/USD today: the pair remains under the pressure
The EUR/USD pair from the start of the day was under the moderate pressure of the American dollar. It allowed this pair to correct, while maintaining lateral dynamics. At the same time, general market dynamics remains limited by uncertainty and upcoming US employment data.
Events for today:
- 14:30 – the US employment report will be published: average hourly earnings (compared to the same period last year) (y/y) (oct), nonfarm payrolls (oct), economically active population (oct), private nonfarm payrolls (oct) and the unemployment rate (oct).
- 15:45 – the index of business activity in the manufacturing sector (PMI) (October) in the United States will be announced.
- 16:00 – ISM index of employment in the manufacturing sector (Oct) and ISM index of business activity in the manufacturing sector (PMI) (Oct) USA will be released.
- 19:00 – total number of drilling rigs in the United States from Baker Hughes (U.S. Baker Hughes Total Rig Count) will be announced.
The day is full of statistics for the United States, but the main attention of the market will be focused on the employment report.
The EUR/USD pair retains the potential for decline in the formation of the “double top”, despite the limiting factors, the growth of optimism and expectations of an employment data in the US. In turn, it is limited by the support level of 1.1120-00. The general movement of the pair will depend on employment data in the United States and will be limited by resistance levels: 1.1200, 1.1220-30 and 1.1250, support: 1.1100, 1.1080 and 1.1050.
Read also: “The oil market and its cloudy prospects”
Hanzenko Anton
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