EURUSD: Movement down continues

EURUSD: The movement continues downward.

Breaking forecast.

The beginning of the week is poor for the news. The momentum of decline in the EURUSD was set by the weak result of Merkel’s party in the elections in Germany, which caused concerns about the stability of the EU.

On Tuesday, the main event was the speech of the head of the Federal Reserve Chairwoman, Janet Yellen. Although the head of the Fed tried as much as possible to soften statements about the policy of the Fed, nevertheless the main thing remains valid: the Fed will raise the interest rate on the dollar again at the end of this year (most likely in December) by + 0.25%. Also, in October, a program for the gradual withdrawal of additional money supply from the markets, injected there by the Fed during the recovery period after the 2008-09 crisis during the three QE programs in the period from 2009 to 2013, will begin in October.

Today, at 12.30 PM London time, there will be a report on orders for durable goods — strong data for the US is expected.

We advise continue to hold selling for EURUSD. Selling from the upward rebound from 1.1830 and from 1.1860 are possible.

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