EUR/USD today: the pair keeps a downtrend

Trades on Monday closed with a decline of EUR/USD pair and with update of the annual minimum, which was due to weak statistics on Germany. On Tuesday, the rising dynamics of the American continued and intensified by the weakening of the pound.

Events for today:

• 12:00 – the economic forecasts of the European Union.
• 17:00 – the number of open vacancies in the labor market (JOLTS) in the United States.

Today is a very eventful day, despite the fact that the speech of the head of the US Federal Reserve did not affect the market. Now the market is focused on the forecasts for the euro area and the vacancies in the labor market (JOLTS) of the USA. Also, the market is now awaiting comments by D. Trump on Iran’s nuclear agreement, which could affect the dynamics of the American.

Technically, the pair GBP/USD remains in oversold, as evidenced by the divergence of MACD and the oversold of the majority oscillators, but at the same time the pair keeps a downtrend. And the update of yesterday’s low at 1.1900 is likely to open a dash for the further sell-off of the pair and to the support levels: 1.1870 and 1.1850. Resistance is: 1.1930 and 1.1950.

Fig. EUR/USD. Current price – 1.1910

Hanzenko Anton