EUR/USD today: the pair maintains a sideways trend

On Tuesday, the pair EUR/USD restrainedly corrected against yesterday’s decline, but the maximum could not be updated, which indicates the weakness of the single currency. The limiting factor for the American is the downward dynamics of the state US bonds and the possibility of an aggravation of the US trade war.

Events for today:

• 23:30 – weekly stocks of crude oil in the US according to the American Petroleum Institute (API).

The day is full of data on business activity in Europe, which, in turn, turned out to be rather ambiguous, which only added uncertainty to the trades.

The pair EUR/USD retains the potential to decrease on the weakness of the euro, which confirms the decline of the euro in crosses. At the same time, the American, because of the trade confrontation between the US and China, is also under pressure. As a result, the EUR/USD pair is limited to the side range from 1.2290-80 to 1.2340-50, which in the end confirms the preservation of the March uptrend.

Fig. EUR/USD. The current price is 1.2310.

Hanzenko Anton