EUR/USD today: the pair remains in the side triangle
The EUR/USD pair from the start of the day has been trading on the strengthening after the decline and the overall growth of the euro. Additional support for the single currency is provided by the strengthening of the Swiss franc. The overall dynamics of this pair remains limited by the side channel.
Events for today:
- 14:00 – the Bank of England meeting results will be published: the total QE program of the Bank of England (Sept), the interest rate decision (Sep) and the meeting minutes of the Committee on Monetary Policy.
- 15:30 – the US data will be released: current account balance (Q2), initial jobless claims, Philadelphia Fed index of manufacturing activity (September) and Philadelphia Fed employment inde (September).
- 17:00 – will announce sales in the secondary housing market (m/m) (Aug) in the United States.
The day today is full of data on the UK and the US, which will affect the trades.
The pair EUR/USD maintains growth on correction after yesterday’s decline, limiting itself to the weekly channel from 1.1070-90 to 1.1020-00. A downward reversal is expected to form in the zone of 1.1070-90 against the background of maintaining the lateral dynamics of the pair in the form of a lateral triangle. It is also worth to note the publication of the Bank of England protocol, which may have an impact on the euro through the EUR/GBP cross. Fixing the EUR/USD pair above the psychology of 1.1100 will indicate the formation of a reversal in a three-month downtrend.
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Hanzenko Anton
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