Symposium in Jackson House was shock

Events, which should be paid attention to today:

Great Britain – Bank holidays.


Economic Symposium Symposium in Jackson -Houl was a shock – Heads of the ECB and the Fed unanimously announced the need for further aggressive increase in interest rates. The traders did not know what to do and as a result on Friday we saw first a jerk up, then a quick descent down. Both monetary regulators will hold their next meetings in September and both are ready to increase The discount rate is 0.75%. If for the Fed this is a familiar step (the rate was increased in June and July), then for the ECB it will be new. Since the US inflation is lower and the current rate is higher, for the EURUSD Friday statements of the Central Bank is a signal for further decrease. For example, the real rate in the USA in September will be -5.25%, and in the eurozone 7.65%. Against this background, it is advisable to use the growth of quotations to the nearest resistance levels to open Sell positions in the calculation of the continuation of the descending trend.

Trade recommendation: Sell 0.9967/1.0000 and Take Profit 0.9900.