After a spectacular growth of Wednesday, on Thursday the euro tried to preserve the reached level and closed the day with a modest growth of 8 points.
On Sunday, federal election is scheduled in Germany. Angela Merkel’s the Christian Democratic Union of Germany and the Social Democratic Party of Germany, where Peer Steinbrück is the SPD candidate for Chancellor of Germany. According to the latest poll and taking into account various sources the share of the voices is the following one 30-39% and 25-26%. The other parties are lagging behind. It is rather possible that Merkel will not be elected for the third time and, more importantly, the new parliament will be stricter towards the southern countries of Europe.
Today at 18:00 UTC+4 Consumer Confidence index in the Eurozone in September is published; forecast -14 vs. -16 in August. We expect the continuation of the correction.
After the yesterday’s high 1.3510 is overcome, we expect the price in the area of interjection of three lines on the H4, the level of Fibonacci 161.8% and two trend lines on the 1.3460. Consolidation of the rate under the level will push the price to the high of August 23, 1.3412.
The material has been provided by InstaForex Company – www.instaforex.com
After a spectacular growth of Wednesday, on Thursday the euro tried to preserve the reached level and closed the day with a modest growth of 8 points.
On Sunday, federal election is scheduled in Germany. Angela Merkel’s the Christian Democratic Union of Germany and the Social Democratic Party of Germany, where Peer Steinbrück is the SPD candidate for Chancellor of Germany. According to the latest poll and taking into account various sources the share of the voices is the following one 30-39% and 25-26%. The other parties are lagging behind. It is rather possible that Merkel will not be elected for the third time and, more importantly, the new parliament will be stricter towards the southern countries of Europe.
Today at 18:00 UTC+4 Consumer Confidence index in the Eurozone in September is published; forecast -14 vs. -16 in August. We expect the continuation of the correction.
After the yesterday’s high 1.3510 is overcome, we expect the price in the area of interjection of three lines on the H4, the level of Fibonacci 161.8% and two trend lines on the 1.3460. Consolidation of the rate under the level will push the price to the high of August 23, 1.3412.
The material has been provided by InstaForex Company – www.instaforex.com
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