EUR/USD: Euro is sold out again

The pair EUR/USD is going down slightly at the Forex currency market on Monday morning.

By 9.10 Moscow time the Euro is at 1.3340 against closing level of 1.3368 on Friday.                   

Despite favourable environment that was based on positive statistics on Friday night, this morning investors returned to sales: on the one hand agency Fitch Ratings announced that it revise forecast for the economic growth rate in Asia and on the other hand EU summit is over and new financial agreements do not supersede the old ones, but designed to make previous financial conditions to be more efficient.

It also became known at the end of last week that China can launch investment Fund for the amount of 300 billion euro; European countries regarded this positive news as favourable for them, which supported the Euro. Additional clarification has not been received.

The day is going to be quiet in terms of macro –statistics; therefore traders will be focused on the external background.

Most likely the pair EUR/USD will go beyond the range of 1.3290-1.3390.

 


 

 

 

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