The euro/dollar is falling again
10.06.2014
On Tuesday the main currency pair is once again under pressure, and for now the euro has no reason for recovery.
The euro/dollar is falling – yesterday the pair attempted to strengthen against the "thin market" and the lack of a certain number of European players who were celebrating the Holy Spirit. The single published release knocked the euro/dollar down.
Statistics showed that in June the Sentix Investor Confidence index dramatically weakened, showing the second consecutive decline, and ended up at its lowest point since December 2013. This amounted to 8.5 points against the May value of 12.8 points and the forecasted 13.5 points.
And that was not even most unpleasant thing. The devil, as usual, is in the details: the components of the report showed that the index of the current situation, as estimated by the investors, deteriorated almost 7 times and was 0.3 points versus the previous 7.5 points. The Index for the half year expectations, in turn, was 17 points from 18.3 points before.
In other words, reasons for buying were extremely difficult to find, and on Tuesday morning, the euro/dollar continues to follow the downward inertia.
The macroeconomic calendar for today for the U.S. and the euro zone is empty, so investors may have to look for other reasons to stabilize the pair or more likely continue selling. The goal of the "bears" is at 1.3565.
RoboForex Analytical Department
The euro/dollar is falling – yesterday the pair attempted to strengthen against the "thin market" and the lack of a certain number of European players who were celebrating the Holy Spirit. The single published release knocked the euro/dollar down.
Statistics showed that in June the Sentix Investor Confidence index dramatically weakened, showing the second consecutive decline, and ended up at its lowest point since December 2013. This amounted to 8.5 points against the May value of 12.8 points and the forecasted 13.5 points.
And that was not even most unpleasant thing. The devil, as usual, is in the details: the components of the report showed that the index of the current situation, as estimated by the investors, deteriorated almost 7 times and was 0.3 points versus the previous 7.5 points. The Index for the half year expectations, in turn, was 17 points from 18.3 points before.
In other words, reasons for buying were extremely difficult to find, and on Tuesday morning, the euro/dollar continues to follow the downward inertia.
The macroeconomic calendar for today for the U.S. and the euro zone is empty, so investors may have to look for other reasons to stabilize the pair or more likely continue selling. The goal of the "bears" is at 1.3565.
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.