EUR/USD today: the pair has slowed the growth
After the sale of the dollar in the US session on Wednesday, the EUR/USD pair managed to significantly slow down the two-week downward dynamics. The main reason for this was the sale of the US dollar across the market. As a result, the pair managed to break through a significant resistance of 1.1350 and update a high of 1.1400.
Events for today:
- 15:00 – consumer price index (CPI) of Germany (m/m) (November).
- 15:30 – US news block: core price index of personal consumption expenditures (y/y) (oct), core price index of personal consumption expenditures (m/m) (oct), initial jobless claims and personal spending (m/m) (oct).
- 17:00 – pending home sales (m/m) (October) USA.
- 21:00 – FOMC meeting minutes will be published.
The day today is filled with events, among which the main issue is the publication of the FOMC protocol. After the comments of the US Fed Chairman, Powell, the protocol will be quite hawkish, but without hints of a further rates hikes in the United States in 2019 the dollar will be under a pressure again .
EUR/USD is limited by overbought and increasing Brexit risks. It is also worth noting the optimistic market expectations, which rely on the G20 summit, which is expected to reduce tensions in the trade war between the United States and China, which is also indicated by the growth of optimism in the stock markets.
EUR/USD is under pressure of correction and consolidation below 1.1360-50 will indicate a full-scale correction to support levels: 1.1320-00 and 1.1270. At the same time, the risks of easing US monetary policy limit this movement. Resistance marks are: 1.1380 and 1.1400.
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Hanzenko Anton
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