EUR/USD is traded around the start levels of today’s session on Forex on Monday, despite of the positive outer background.
Ex-chairman of the FRS, Mr. Alan Greenspan, said today, that USA can run the danger of recession with the false bottom: he thinks that the current recovery of the economy is only a pause before dropping down. According to Mr. Greenspan’s opinion, the recession will continue if the real estate prices will go down again.
At the moment situation for Euro/Dollar is the following: Bulls’ targets are 1.3150 and 1.32 levels, but keeping in mind how hard it was to get over 1.30, we can suppose that it is far from taking a stable position on the above mentioned levels. The most likely scenario is the one, where pair will grow for 2-3 sessions, and then a technical correction will make itself felt.
In general Euro has a stronger position right now – not because things go better in Eurozone, but due to the fact that US economy slows down, which can be seen through the statistics published recently.
Investors are expecting data about ISM Manufacturing in States by 6 p.m. today. It is supposed that business activity in the industrial sector at the end of July has slowed down. If economists’ expectations will be proved right, Euro can get a new impulse to grow.
Current week will be quiet in terms of macro statistics in States. On Thursday the decision of ECB about the interest rate will be published – it is most likely it will stay at the same level, but investors will traditionally be more interested in comments of monetary politicians.
Ex-chairman of the FRS, Mr. Alan Greenspan, said today, that USA can run the danger of recession with the false bottom: he thinks that the current recovery of the economy is only a pause before dropping down. According to Mr. Greenspan’s opinion, the recession will continue if the real estate prices will go down again.
At the moment situation for Euro/Dollar is the following: Bulls’ targets are 1.3150 and 1.32 levels, but keeping in mind how hard it was to get over 1.30, we can suppose that it is far from taking a stable position on the above mentioned levels. The most likely scenario is the one, where pair will grow for 2-3 sessions, and then a technical correction will make itself felt.
In general Euro has a stronger position right now – not because things go better in Eurozone, but due to the fact that US economy slows down, which can be seen through the statistics published recently.
Investors are expecting data about ISM Manufacturing in States by 6 p.m. today. It is supposed that business activity in the industrial sector at the end of July has slowed down. If economists’ expectations will be proved right, Euro can get a new impulse to grow.
Current week will be quiet in terms of macro statistics in States. On Thursday the decision of ECB about the interest rate will be published – it is most likely it will stay at the same level, but investors will traditionally be more interested in comments of monetary politicians.
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