- Points for forecasts EUR / USD south because market participants take care of political stability in France.
- The French Prime Minister called for the vote of trust in early September.
- The dollar rejected Wednesday on Wednesday because it was worried about Fed Independence.
Points for forecasts EUR / USD south because market participants take care of political stability in France. Meanwhile, the dollar has recovered from a recent collapse as a caring independence.
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The French Prime Minister called for voting on trust in early September, which could lead to another collapse in the government. The news led to collapse in state bonds as traders concerned that this would mean instability and without budget by the end of the year. As a result, the euro faced pressure downward.
“What is crucial is whether we will be able to have a budget by the end of the year,” said the main economist of Aksa Moec.
On the other hand, the dollar rejected Wednesday as a concern over Fed Independence. On Monday Trump ordered the shooting at the Fed Governor Lisa Cook, which led to collapse in Greenback. Move tension tensions between Trump and Fed. At the same time, traders became concerned about the future of the Central Bank. Such a move could mean more politically in the future in the future without independence.
EUR / USD Key events Today
Merchants do not provide for any economic editions of a high impact than the US or eurozone. Therefore, the focus on the market will remain in French politics.
EUR / USD Technical forecast: Medvedi target for support level of 1,1550
On the technical side, the price of EUR / USD price trades below 30ths, with RSI under 50 years of age, suggesting bear bias. The fall comes after the bulls failed to keep the price above the level of resilience at 1,1700.
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EUR / USD maintained lateral movement after trend in reverse near the level of support from 1,1400. The bulls took over and began to make higher high and lower. However, they were unable to continue gathering in addition to 1,1700 resistance. Since then, the price cut through 30 SMA, without a clear direction. He made another failed attempt when the bulls made a strong green candle.
Currently bears view the level of support from 1,1550. The lower vacation will allow for a price to resubmit the support of 1,1400 and start a new trend.
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