Fundamental analytics

EUR / USD remains under pressure


In the absence of important economic news, the EUR / USD pair continues to trade in a very narrow range.

At the European trading session, in the focus of investors today will be the ZEW Institute indexes in Germany. Experts predict the publication of stronger data than a month earlier, which can locally support the European currency.

During the American trading session, investors will follow the statements of the Fed representatives - Kashkari, Clarida, Harker and Barkin. The central event of the day may be the performance of Donald Trump at the New York Economic Club. The American president can comment on the trade negotiations between the US and China. This topic now has the greatest impact on the dynamics of the dollar and other financial instruments.

There are very few positive signals on the chart. Yesterday, the currency pair showed a rather modest correctional growth. Sales pressure persists. Therefore, today we can expect the resumption of the downward movement with the target at 1.1000.

Resistance levels: 1.1055, 1.1090, 1.1130.

Support levels: 1.1020, 1.1000, 1.0950

The main scenario is an increase to 1.1055 and a decrease to 1.1000.

An alternative scenario is a decline to 1.1000 from current levels.

Locally formed neutral news background. The chart is dominated by bearish signals. Inside the day we consider shorts from the level of 1.1055.


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