The Euro: the path to new lows opened

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On Tuesday on world markets ball rules flight from risk, and currency platforms are no exception. Against this background, during the European session the demand for the dollar increased sharply, resulting in EURUSD again went to around 1.15, and is already testing the support area at 1.1530.
Moreover, the U.S. currency managed to return to their original positions against the Swiss franc in and cut losses against the yen. This suggests that the growth of the attractiveness of the USD is due not only to the avoidance of risks.
Draghi not only brought relief to the Euro bulls, but also intensified the pressure on the single currency. Players hoped that the rhetoric of the ECB President at today’s forum will be somewhat more cheerful than last week. Instead, the market only heard confirmation that a rate hike in the Eurozone will not be at least until the third quarter of 2019.
Then the dynamics of the major currency pairs will depend on the ability of the dollar to retain or increase of the points positions. The U.S. dollar index reached the highest since July 2017 value, and if the closing price confirms a breakthrough, it will signal to the worsening Outlook of the Euro, including against the background of expanding the divergence of the courses of the monetary policy of the fed and the ECB.
From a technical point of view, way to around 1.15 open. To keep quotations from falling further can local profit taking on long dollar positions or improvement in the attitude of investors to risk in the event of a downturn in geopolitical tensions between the US and China.
Michael Mashchenko,
Analyst social network for investors
eToro in Russia and the CIS