The pair EUR / USD continues to adjust

The pair EUR / USD continues to adjust amid the absence of any significant fundamental news on the market. Market players are now mostly playing out the news on Friday, the publication of Non farm payrolls, as well as data on the slowing inflation in the EU, which were also published last week.

The main events of the current trading week are waiting for us at the end, when on Thursday there will be minutes from ECB last meeting, and inflation indicators will be published in the United States, which are very important in light of the prospects for raising the interest rate.

Today, EUR / USD remains under pressure and continued to move downward, but the price was supported by unexpectedly good industrial production data in Germany, which significantly exceeded the forecast level, an actual growth of 3.4% with a forecast of 1.9%. Later, we expect data on the unemployment rate in the EU, analysts predict a decline in the indicator from the previous 8.8% to 8.7%. In the United States, the statistical front is empty. Only FOMC member speech Neel Kashkari will probably be able to somehow revive the market.

In fact, in the absence of important news, today we can see a continuation of the downward movement with a possible stop in the area of ​​1.1930. For breakdown of this mark, more significant fundamental events will be required, and in general the price has already passed a considerable distance downwards, so we are unlikely to see breakdown at the level 1.1930.

Fort Financial Services