EUR/USD today: the euro updates the monthly maximum
At tradings on Tuesday, the pair EUR/USD managed to overcome significant resistance levels, thus ignoring the “head and shoulders” figure on the D1 timeframe. The pair also managed to exit the two-week sideways trend, which was supported by positive data on the euro area.
Events for today:
- 12:00 – a speech by a member of the Committee for Monetary Policy of the Bank of England, Haldane.
- Also, at 12:00 – publication of a trade balance of the euro area.
- 15:00 – a speech by a member of the Monetary Policy Committee of the Bank of England, Broadbent.
- 15:30 – publication of a news block on inflation in the US.
- 17:00 – the volume of inventories in the US (m/m).
- 17:30 – announcement of data on oil reserves in the US.
- 23:00 – publication of the volume of purchases of long-term securities of TIC USA.
The day is full of events and it is especially worth noting the upcoming data on inflation in the US. For more details about market news, refer to Expert Opinions and Market News.
At the moment, the pair EUR/USD is trading near the significant resistance 1.1830-40, which meets the level of Fibo. 50 from the maximum of August. Considering the significant overbought of the euro across the entire spectrum of the market, a correction may be formed from this zone. Also, today there will be data on inflation in the US, and in case of negative statistics, one should expect resistance test 1.1880-1.1900. Support is located at the levels: 1.1750-60 and 1.1680.
Hanzenko Anton