EUR/USD today: the pair consolidates
At auctions on Tuesday, the pair EUR/USD closed the day with a sideways trend at the same level as it opened. At the auctions in Asia, this pair significantly strengthened, which was due to the correction of positions on the American before the celebration of Thanksgiving Day in the US tomorrow. Given the safety of the descending channel, yesterday’s forecast remains.
Events for today:
- 14:30 – publication of the report on the autumn forecast of the UK treasury.
- 15:30 – data on the US: basic orders for durable goods in the US (m/m), the volume of orders for durable goods in the US (m/m) and the number of initial applications for unemployment benefits in the US.
- 17:30 – data on oil reserves in the US.
- 20:00 – a number of drilling rigs in the USA by Baker Hughes.
- 21:00 – publication of the FOMC protocols.
The day is full of data on the US today, and given the fact that the market is already preparing for the Thanksgiving Day in the US and the volume of trading continues to decline, the upcoming news can be very volatile.
Strengthening of the EUR/USD pair at the beginning of the day continues to be limited by the existing downward trend. And the resistance zone 1.1770-90 acts as a sales area, with which a downward trend may resume. Support is located at the levels: 1.1720 and 1.1680.
Hanzenko Anton