Important events today:

14:00 UTC – US: Consumer Confidence Indicator.

The growth of quotations in the area of the nearest resistance levels is advisable to use for the opening of Sell positions, counting on the continuation of the downtrend, for two reasons. Firstly, EU is going to face political crisis after the parliamentary elections in Italy where the opposition coalition won and before the elections it spoke about the necessity to change the cooperation with the European Commission.

Brussels, in turn, announced that it would not allow any opposition within the currency bloc. Secondly, the U.S. government bond yields continued to rise again, which leaves investors no choice but to buy the dollar. Investors expect further aggressive rate hikes by the U.S. Federal Reserve, while rates in the euro area will continue to be several times lower.

Recommendations: Sell 0.9700/0.9740 with TP 0.9650.