On the eve, the US Federal Reserve released fresh statistics on the change in assets on the balance sheet in the evening. Over the past week the figure rose by $85.4 billion against $22 billion a week earlier. The Federal Reserve is aggressively printing money and stepping up asset purchases, while the media keep telling us that we will see a reduction in QE soon. Journalists talked about this in July and June, and the Fed has always aggressively increased the amount of assets on its balance sheet.

This week the ECB also published statistics on the change in assets on the balance sheet, but its indicator increased by €26.3 billion. The rate of asset purchases from the ECB is substantially slower than that of the Fed. Against this background, I expect the EURUSD quotes to grow.

Trading recommendation: Buy 1.1660/1.1630 and take profit 1.1740.