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The decisions that were announced after the meeting of the Federal Open Market Commission had an incredible impact. And to be honest, they will continue to provide it for quite a long time. In general, the scale of the weakening of the single European currency was extremely significant. As a result, the single European currency was heavily oversold, and it was obvious that at least a local correction occurred yesterday. However, nothing has changed fundamentally, since the very decisions of the Federal Reserve System that started the process of weakening the single European currency have not gone away, and it is quite logical to expect the resumption of this fascinating action. However, it seems that this will have to wait a little longer, since the macroeconomic statistics in the United States today do not favor the growth of the dollar too much. Home sales in the secondary market should once again decline. And this time, it should be by 1.0%. This is nothing more than a decline in consumer activity, which is the main guarantee of economic growth. In general, data on home sales in the secondary market can tell us that the pace of economic recovery is slowing down somewhat. But we should not expect the rapid growth of the single European currency, as the data themselves are rather secondary.
Home sales on the secondary market (United States):
The European currency during the last trading day managed to fully recoup the decline for June 18, eventually returning the quote to the area of the price value of 1.1920. The technical correction was quite expected in the market due to the high level of oversold level of the euro.
As for the market dynamics, there is still a high speculative interest among traders, which leads to impulsive price changes.
If we proceed from the current position of the quote, we will see a reduction in the volume of long positions and an increase in the volume of short positions, where the resistance is the area of the conditional maximum of June 18 - 1.1920. If the downward movement resumes and the price does not stay above 1.1950, the correction move can be played back within a week.
From the point of view of complex indicator analysis, it can be seen that technical instruments continue to signal a sale.
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