EUR/USD today: the pair maintains a downtrend
The EUR/USD pair has been trading with strengthening from the start of the day, adjusting after yesterday’s decline and waiting for the US Federal Reserve meeting minutes. Before the publication of the Fed’s protocol, many participants reduce their positions in the US currency, which puts moderate pressure on the American dollar.
Events for today:
- 17:00 – speech of the ECB President Draghi will take place.
- 21:00 – FOMC economic forecasts, FOMC statement and the Fed interest rate decision will be published.
- 21:30 – FOMC press conference will be held.
The main event of the day and the last few weeks will be the publication of the results of the FOMC meeting. From this protocol, in the first place, we will expect a hint at rates cut in the US in the future.
The EUR/USD pair is restrainedly strengthening on the weakness of the American dollar, which is caused by the correction of positions in front of significant data. At the same time, this pair maintains a downward trend. The overall trend also indicates a decline. But do not exclude significant volatility in the upcoming news on interest rates in the United States. Significant resistance levels: 1.1230, 1.1270 and 1.1300, support: 1.1170, 1.1130 and 1.1100.
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Hanzenko Anton
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