EUR/USD today: a pair is under pressure of correction

On Tuesday, the EUR/USD pair closed trading with a decline in the strengthening of stock indices, positive US statistics and evidence that the Brexit talks could drag on. As a result, the pair returned to significant support 1.1550.

Events for today:

• 15:30 – data on real estate in the United States: building permits (m/m) (September), building permits  (September),  housing starts (September),  housing starts (m/m ) (September)
• also at 15:30 – manufacturing sales in Canada (m/m) (August).
• 17:30 – US oil inventories come out.
• 19:30  – President Bundesbank Weidmann will speak.
• 21:00 – publication of the  FOMC meeting minutes.

The markets returned to optimism against the background of decreasing risks around a trade war and rates haike in US, and it supported the American currency.

The EUR/USD pair continues to trade in the sideways channel from 1.1600-20 to 1.1550-30, forming a correctional movement against the weekly growth earlier. Fixing this pair below 1.1550-30 will indicate the formation of a full-scale correction against growth, this zone also remains reversal.

Read also: “Cross-rates characteristics”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

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2. Trump presidency results (1/2).
3. Trump presidency results (1/1).

Current Investment ideas:

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