EUR/USD today: the euro is under pressure

After a decline at the start of the European session at the negative opening of stock indices, the EUR/USD pair continues to trade in a narrow trading range, indicating the persistence of risks for the euro and the growth of negative sentiment in the market. With the growth of general negative sentiment, there is a strengthening of safe assets, which also contributes to the correction of the American dollar.

Events for today:

  • 15:30 – data on real estate in the USA :  building permits (m/m) (oct), building permits (oct), new houses starts (m/m) (oct) and new houses starts (Oct).
  • 17:00  – President Bundesbank Weidmann will speak

The main event of the day is the publication of data on the real estate market in the United States. Against the backdrop of waiting for news, it is also possible a moderate strength of the American dollar. The uncertainty continues to be the text of the Brexit agreement, news on which will have a significant impact on both the pound and the euro.

The pair EUR/USD amid rising pessimism turned to correction. As a result, a test of support levels is possible: 1.1400 and 1.1380. At the same time, the general uptrend for this pair is maintained and the growth of optimism or weak statistics for the United States will contribute to this. Purchase deals should be considered near the level: 1.1430-40. With resistance test: 1.1480 and 1.1500.

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