EUR/USD today: the pair remains in the side channel
On Wednesday, the EUR/USD pair closed with a sideways movement, despite the exacerbation of the risks of the US-China trade and political risks in the UK. As a result, this pair is trading in the side channel of Wednesday from 1.1360 to 1.1310.
Events for today:
- 15:30 – US data: initial jobless claims, non-farm productivity (q/q) (Q3), trade balance (oct) and labor costs (q/q) (Q3).
- 16:45 – data on business activity in the United States.
- 17:00 – US news block : nondefense capital goods shipments (excluding aircraft) (m/m), factory orders (m/m) (oct), ISM non-manufacturing employment index (November) and ISM non-manufacturing business index (PMI) (Nov.).
The day today is very full of statistics on the US and we can expect an increase in activity after yesterday’s restrained market dynamics in the American session.
The EUR/USD pair continues to trade in the side channel of Wednesday, limited to it. In the face of risks, we should expect the strengthening of the US currency, which will open the way to support levels: 1.1280 and 1.1280. Resistance levels are: 1.1340 and 1.1360.
Read also: “Fundamental Analysis: Labor Market and its Impact on the Dynamics of the National Currency”
Hanzenko Anton
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