EUR/USD today: the pair maintains an uptrend

The pair EUR/USD after the yesterday’s decline is traded with correction, thereby maintaining an upward trend, which is caused by a general decline of the US dollar and an increase in optimism in the stock markets.

Events for today:

• 15:30 – data for the USA: the volume of shipments of civilian means of production (without aircraft) (m / m), core  durable goods orders (m / m) (July), durable goods orders  (m / m) (July).
• 17:00 – the speech of the head of the Federal Reserve, Mr. Powell will be held.
• 20:00 –  number of oil rigs from Baker Hughes, previous value  869.

The market will await today’s speech by Fed Chairman Powell, whose statements on tightening monetary policy can be regarded by the market as a significant factor in the upward movement of the US dollar.

The pair EUR/USD maintains a weekly uptrend, the lower limit of which is at the levels: 1.1550 and 1.1530. Significant resistance is the marks: 1.1590 and 1.1620. As a result, this range can be considered reversal and an exit to either side will indicate further movement. The main factor of risk is the fundamental factors.

Read also: “Analysis of speeches of key persons of the financial market”

Hanzenko Anton

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

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