EUR / USD
Donald Trump surprised the investment community once again. Now, instead of "tightening the screws" regarding trade relations with China, he undertook a new tactic to conduct large-scale negotiations on setting up trade without applying higher tariffs. On this news, the Chinese Yuan started strong strengthening and pulled other world currencies. The euro gained 20 points on the day, the Canadian dollar strengthened by 70 points. Industrial production in the euro area in July fell by -0.8% against the forecast of -0.5%.
Today at 12:45 London time, the ECB takes a decision on monetary policy. No change is expected, but Mario Draghi, if he wants to be neutral, it will be difficult to sustain such a tone. It is difficult to bypass the facts of economic slowdown and political instability.
But in the passing sessions of the Central Banks, large players often do not pay attention to the speeches of their representatives, and implement the planned plans. It may very well be that a 10-day consolidation decision was made. Unfortunately, we do not know what. The current trend is completely rising, not enough just the price transition over the Kruzenshtern line on the four-hour chart. The growth targets are the previous: 1.1750 (July 23 maximum), 1.1822 (May 9 minimum). The goals of the "bears" also remain the same: 1.1520 - support of the price channel line, 1.1442 - support of the Kruzenshtern line on daily.
