At the end of last week, the U.S. dollar has lost weight again against major competitors. The reason for such a negative attitude to the dollar from investors was the publication of disappointing macroeconomic data in the U.S.. This week, market participants will have the opportunity to evaluate the protocol FOMC. This may lead to new estimates of the prospects for monetary policy the FED.
The current situation in the U.S. economy and the euro zone rather ambiguous. In this regard, the major currency pairs continue to trade in the usual ranges. The data on business activity, which is out this week, can provide some support for the European currency. In recent years, more and more experts are inclined to believe that there are risks of short-term improvement of the macroeconomic parameters Eurozone and the UK. In the event that such assumptions will receive confirmation of the reports, the demand for the pound and the euro in the near future may increase.
Quotes EUR/USD continues to consolidate in the range of 1.32 - 1.3350 . Break outside of the channel and the development of medium-term movement will be possible only when the market as the information. From a technical point of view, the situation becomes more and more a stalemate. It's possible that the signal for active operations will be increased volatility in the U.S. stock market. According to some experts, there takes place a bubble, which is able to begin to deflate at any time. Given the fact that in recent years have lost their traditional ties intermarket correlations somehow uniquely interpret the potential changes in the financial markets is not possible.
1.34 level for the euro - is a kind of psychological mark, above which we can see a very dynamic trading. According to dealers, the accumulation of orders to sell the pair is observed in the region of 1.3170 and below. Thus, the participants wait for the start of quotations to open short positions or fixing medium-long. If the bears still be able to break and consolidate below 1.32, it's very likely that before the September meeting of the FED will again show a couple lows around 1.2750 .
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