11.09.201311:31 Forex Analysis & Reviews: EUR/USD. Forecast for September 11, 2013

Long-term review

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Yesterday the major driving force for the euro’s growth was DJIA which added 0.85%, which in its term rose amid Obama’s decision to ease off his position pertaining to Syria. Voting on Syria question in the US Senate is delayed and is scheduled on the next week (there is no information about the date).

Now, when the tension in Syria eased off, there is the threat that the Italian Parliament will be dissolved. Berlusconi’s party People of freedom threats to exit a coalition government. Former Premier wanted to announce the break even at September 6, however, the situation has not changed.

Relevant macroeconomic events are not published today and the major investors may buy the US dollars.

From the technical point of view, the price moves closer to the earlier depicted level of 1.3297, the low of August 22, here the reverse in form of rebound from the indicator Kruzenshtern line on the daily chart is possible. The next target is 1.3228, the low of September 2, the second target is support of trend line on the H4 1.3210, and the third target is 1.3160.

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