On Friday, data on Industrial Production in France and Trade Balance in Italy was lower than forecasts and investors preferred to close the positions. On Friday, the euro dropped 40 points.
Today at 22:00 UTC+4 US Federal Budget in July is published; forecast -$96 billion vs. $116.5 billion in June. Probably, investors will continue to move out of risk (the euro), as the US stock market has been falling for a week.
From the technical point of view, the price has rebounded from blue trend line on the daily chart. On the H4 the price has broken the like of Kruzenshtern (blue sliding). Meanwhile, being a trend indicator, the line reverses downwardly. Marlin oscillator on the H4 moved lower the zero line. The first bearish line is 1.3300. If the rate consolidates under the level, the second target 1.3260/65 opens.
