The euro is trading at the annual "bottom"
27.08.2014
The main currency pair remains at the lows from September 2013 and may again deepen the fall.
The macroeconomic statistics calendar today is not saturated, but more data has already been published, which proved to be very interesting. The volume of orders for durable goods in July in the United States grew by a record amount, 22.6%, to $ 300.1 billion, with much more modest assumptions and expectations. Taking into account seasonal variations there was good growth in orders of aircrafts, in many ways - through Boeing’s tactics, which has become a key driver in the indicator.
This strengthening was the strongest since 1992.
It is unlikely that such a serious growing momentum will be sustained over time: in the August report we will, most likely, see the same powerful drawdown in the correction. It turns out that in the next month or two the indicator will cease to be informative.
Meanwhile, the "bear’s" goal in the euro/dollar is at 1.3180 and 1.3175 remains in force.
RoboForex Analytical Department
The macroeconomic statistics calendar today is not saturated, but more data has already been published, which proved to be very interesting. The volume of orders for durable goods in July in the United States grew by a record amount, 22.6%, to $ 300.1 billion, with much more modest assumptions and expectations. Taking into account seasonal variations there was good growth in orders of aircrafts, in many ways - through Boeing’s tactics, which has become a key driver in the indicator.
This strengthening was the strongest since 1992.
It is unlikely that such a serious growing momentum will be sustained over time: in the August report we will, most likely, see the same powerful drawdown in the correction. It turns out that in the next month or two the indicator will cease to be informative.
Meanwhile, the "bear’s" goal in the euro/dollar is at 1.3180 and 1.3175 remains in force.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.