Results of the last trading day:
On Friday, the euro trading ended in the red. After the US dollar strengthened with the opening of trading in Europe, evrobyki did not manage to play daily losses.
Upon reaching 1.1304 low the pair consolidated in the price range of 30 points before the closing date. In the last review of the European session, I wrote: "As long as the euro traded above $ 1.1280, the downward movement is regarded as a correction to the rise from 1.1131 to 1.1366." Today's closing date will determine the direction of the couple on the next three days.
Expectations for today:
Trading in Asia opened higher on the dollar. At the moment the euro against the dollar loses 37 points with respect to Friday's close. On Monday, I always consider the movement against Friday and the opening of this is not a hindrance. According to the forecast from the forward growth of the euro to 1.1324 by the close of trading in Europe.
On Monday the economic calendar is empty. The focus of the speech of the Fed's US market participants Dzh.Yellen in Jackson Hole on Wednesday. As usual, traders will be interested only hints of a rate hike.
News of the day:
At 15:30 MSK in Canada, there are data on changes in the volume of wholesale sales for June.
At 17:30 MSK Australia - The index of leading indicators the Conference Board in June.
Intraday outlook: at least - 1.1271 (current in Asia), the maximum - 1.1324, closing - 1.1301.
Fig. 1 euro / dollar exchange rate, the time period. Data source: TradingView
Friday's expectations with the strengthening of the euro did not materialize. Pound for his fall dragged down with other currencies. In Asia, on the background of the general strengthening of the US dollar the euro fell to 1.1271.Current quote is 1.1281. Price bounced off the bottom of the channel (dashed lines). Since the cross EUR / GBP remains on the customer side, then on Monday the euro forward rate reduction to 1.1324 (45 oz.). I do not care what comes out on Monday. I ignore all the news today and consider the movement against Friday.