EUR/USD today: the pair remains near significant level
At the auctions on Thursday, the pair EUR/USD is trading in a sideways trend near a significant psychological level 1.1600. As a result, yesterday’s forecast for this pair is in effect.
Events for today:
- 15:30 – release of the number of initial applications for unemployment benefits in the US.
- 18:30 – the speech of the chairman of the National Bank of Switzerland, Jordan.
- 20:00 – the speech of the President of the Bundesbank, Weidmann.
The economic calendar is not full of news, but the major drivers of the market are general sentiments and a state of uncertainty. Investors monitors the US foreign policy, which also increases uncertainty in the market.
A significant resistance zone for the EUR/USD pair continues to be 1.1600-20. From this zone is expected a reversal and decline. If the price comes out above this zone, this will open the way to more significant resistance levels: 1.1650-60 and 1.1680. But, given the technical picture of the American, one should expect the euro to return to the lows at the levels: 1.1580 and 1.1550. If the price fixes above 1.1620, it is worth to get out of sales.
Recommended for reading: Technical analysis.
Hanzenko Anton