Results of the last trading day:
On Friday, May 25, trading in the euro / dollar ended in the fall. Weakening of the single currency have contributed to political risks in Italy and Spain, as well as the overall strengthening of the US currency, despite the decline in the yield on 10-year US bonds (US10Y). The yield dropped to 2.925%, the euro - up to 1.1646%.
Published US statistics:
The consumer sentiment index, University of Michigan in the US 98.0 (forecast was 98.8, previous 98.8).
orders index for durable goods in the US in April was -1.7% (forecast was -1.4%, the previous value was revised from 2.6% to 2.7%).
Planned statistics (GMT +3):
United Kingdom - Spring holiday.
US - Memorial Day.
Fig. 1 euro / dollar, hour period. Data source: TradingView
On Friday, the euro dropped to 1.1646. Bidding ended 90-th degree. Bidding opened on Monday a sharp increase. The price rebounded 80 pips to 1.1726. Buyers were able to play all Friday's losses.
While maintaining the geopolitical risks in Italy and Spain, traders reacted euro shopping at the decision of the Italian President to veto the choice of the Minister of Economy.
Italian President Sergio Mattarella He vetoing the choice of the Minister of Economy, prompting Prime Minister Giuseppe Conte to resign. The country remains without a government. In the near future, the President will make a decision on holding early elections.
Perhaps traders reacted to the news of what's going on preparation for the meeting Trump and The Kim Un. Because the yen, the Swiss franc and gold are traded in the red.
President Donald Trump in his Twitter account said he expects to meet with DPRK leader Kim Jong Ynom June 12 and confirmed the arrival of the American delegation to the DPRK to participate in talks on the meeting.
At the time of writing the euro is worth 1.1713. In the US and UK today weekends. In this regard, I expect the market low activity members until Tuesday.
The bearish trend in EURUSD remains strong, but I have until 30 May refuse to sell the euro, as the hourly patterns with window bars and 120 cycles, indicating the strengthening of the euro in the framework of correction.
EURUSD forecast today and every day Vladislav Antonov Alpari