EUR / USD today: pair is waiting for a data on US-EU trade relations
On Wednesday trading, the pair EUR/USD continues to trade in a sideways trend. The pair is clamped in a triangle, which was formed by a two-week downtrend and a correction of the last days. Also, do not forget about the waiting market position caused by the meeting of US President D. Trump and the President of the European Commission Juncker, at which the US-EU trade agreements will be discussed. Therefore, the dynamics of the pair remains largely waiting.
Events for today:
- 17:00 – data on real estate sales in the US.
- 17:30 – data on oil inventories in the US.
The main factor of uncertainty is the risks surrounding US-EU trade relations. On the other hand on Thursday, the results of the ECB meeting will be published with a follow-up press conference, which will also to a certain extent limit the euro.
Technically, deals on EUR / USD should be considered with the breakthrough of the channel 1.1720-1.1680. Because of the persistence of high political risks, the goals should be modest. Support levels: 1.1640 and 1.1600. Resistance: 1.1750 and 1.1780.
Read also: “New features of the old-good RSI indicator”
Hanzenko Anton
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