EUR/USD today
Trading on Friday closed with a noticeable decline in the pair EUR/USD based on the adoption of budget of the US Federal Reserve for 2018, which raised the likelihood of Trump’s tax reform. As a result, there was a breakthrough of support level 1.1800 and update of the low at 1.1760, which justified the alternative expectations for this pair on Friday: https://esterholdings.com/en/2017/10/20/eur-usd-today-210/
Events for today:
- 15:30 – Publication of the national activity index of the Federal Reserve Bank of Chicago in the United States.
The economic calendar is empty, the general market sentiment will be the main driver of the market.
The dynamics of the pair EUR/USD remains under pressure of the American, but further decline remains limited with the level 1.1740-30, the minimum of the past week. A correction can be formed from this level, it also be provided by the movement against Friday. Correction movement will be limited to resistance levels: 1.1770 and 1.1790, from which one should expect a resumption of the downtrend. As a result of price fixing below 1.1740, one should expect support test: 1.1710-00.
Hanzenko Anton