EUR/USD today: the pair continues its correction
Trades on Thursday closed with the renewal of the high at 1.1410, which was successfully updated before the release of inflation data in the euro area. At the same time, the dynamics of the pair and the market in general remains very restrained, what is due to the return of European stock exchanges below zero.
Events for today:
- 20:00 – number of oil rigs from Baker Hughes in the US.
With the negative dynamics of European stock exchanges, there is an optimism around trade negotiations. Regarding the US and China negotiations on the trade agreement, there is no consensus that adds uncertainty to trading on Friday.
The EUR/USD pair maintains an upward corrective trend, but is limited by the growth of possible risks. As a result, on the resumption of negative sentiment in the market, a rapid decline of this pair is possible. Levels of resistance: 1.1420 and 1.1450, support: 1.1360-50 and 1.1320-00.
Read also: “Fibonacci lines and trade in crypto currency. Application »
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- Medium-term prospects for the US dollar for August-September
- Emerging markets and their prospects: Chinese yuan (CNH or CNY)
- Stock indices: the Japanese market