EUR/USD: The trend remains bearish, next support to watch


© Reuters. The trend remains negative on the Euro-Dollar

Investing.com – The EUR/USD pair has explored the rise in the beginning of the day, with a peak at 1.1424, but it is ultimately up to the drop that has dominated, with a new low of 1.1377, the lowest since January 4.

After that the pair has little reacts to the negative vote of the british Parliament about the agreement on the Brexit, the day today has not been the occasion of new particularly influential, but has however served to confirm that the profile is bearish for the EUR/USD pair.

Since its hollow, the daily, the Euro-Dollar rebounded, and is now testing the threshold of 1.14. However, at this point, only a return above the psychological threshold of 1.15 would again consider purchasing opportunities.

For the moment, a continuation of the decline remains the most likely scenario, and in this framework, the next support to watch lies at 1.1345, the low of January 4, before the area of 1.1300-05, and then 1.1270.

In terms of future information that is influential to watch, the Brexit remains an important subject, and any statement that would remove a little bit of uncertainty after the vote of yesterday would no doubt be influential on the markets.

The shutdown of the u.s. government also continues to be a topic occupying a prominent place in the concerns of investors, with growing fears that the impact on the economy prove to be more pronounced than we think.

On the side of the economic calendar tomorrow, it should be noted that the program will be loaded, with the CPI in the euro zone at 11am, and then permits US to 14h30, at the same time that the index of the Philadelphia Fed, and that the inscriptions weekly unemployment, and before new home sales, expected at 16h.

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