EURUSD: The movement continues to the downside.
The breakdown of the forecast.
The beginning of the week, it is bad for new. The momentum of the drop in EURUSD has been set by the low result of Merkel’s party in elections in Germany, which has raised concerns about the stability of the EU.
On Tuesday, the main event was the speech of the head of the Chair of the Federal Reserve, Janet Yellen. Although the head of the Fed tried as much as possible to soften the statements about the Fed’s policy, however, the main thing is still valid: the Fed will raise the interest rate on the dollar again at the end of this year (probably in December) to + 0.25%. Also, in October, a program for the gradual withdrawal of the additional money supply, the markets, injected by the Fed during the recovery period after the 2008-09 crisis, during three programs of QE in the period from 2009 to 2013, will begin in October.
Today, 12: 30 Pm London time, there will be a report on durable goods orders — strong data for the united states is expected.
We recommend that you continue to keep the sale of the EURUSD. The sale of the increase of rebound 1.1830 and 1.1860 are possible.