Currency pair, contrary to the fundamental underpinnings, continues to rise. As we all know the issue with Greece remains open and at the previous meeting no major decisions were made; until May 10 the IMF expects payment from Greece in the amount of 500 million euro, as it needs to fulfill its obligations in the form of payment of salaries of civil servants and public pensions until April 30, in the amount of $2 billion euro. Of course recent macroeconomic statistics across the United States disappointing investors, betting on the dollar. The main event this week is the meeting of FOMC, which will be held on Wednesday, late in the evening, which will be announced a decision on interest rates. However, the more important are the comments after the announcement of rates, which will be explained further course of US monetary policy.
Technical analysis has a high probability that the currency pair will reach again the resistance level 1.1000. Further - alienate and continue downward movement. Should sell the pair below 1.1000, profit target - support levels 1.0700; 1,0600; 1,0500.
However, if on Wednesday the majority of the representatives of the Fed will postpone raising interest rates for the period later this year, it is possible further strengthening of the euro to the resistance level 1.1100; 1.1200.
Technical analysis has a high probability that the currency pair will reach again the resistance level 1.1000. Further - alienate and continue downward movement. Should sell the pair below 1.1000, profit target - support levels 1.0700; 1,0600; 1,0500.
However, if on Wednesday the majority of the representatives of the Fed will postpone raising interest rates for the period later this year, it is possible further strengthening of the euro to the resistance level 1.1100; 1.1200.
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