Minimum seen at 1.1122, but the rest of the day rate moved around the level of 1.1140, which is 23.6% Fibo unbearable.
Economic Calendar for Tuesday:
9:00 EUR change in the unemployment rate in Spain
14:30 USD Trade Balance
15:45 USD Aggregate according to Markit PMI
15:45 USD PMI index for services
16:00 USD ISM index for services dot. Employment
16:00 USD ISM index for services
Forecast for Tuesday:
According to yesterday's forecast declines we saw today, which should also motivate the supply side tomorrow. Currently, allows for further declines after the recent strong rally. At the moment, we are in a fairly interesting situation, so the exchange rate reached the lower limit of channel growth and its breakdown should lead to a strong euro sell-off. In this case, the aim should be 1,1034-50 area. Tomorrow we will know the ISM index for services in the US. Any better readings will support the dollar, as will boost expectations about interest rate hikes by the Fed. Similarly, growth can occur if the data will be much worse. In this case, once again we will test today's maximum.
Please note that if you arrive in the vicinity of 1,1034-50 and will support further declines, there is a risk that further increases will be at risk. In this case, the dollar will strengthen in the medium term and the current increases at around 1.1289 may be considered finished.
Note: carefully track the behavior of a currency pair at a level of support 1,1034-50.
The preferred option remains the option of filling drops downward at around 1.1034.