No important events are expected today.

In the United States, the economic symposium in Jackson Hole has ended and it is time to summarize the results. The head of the US Federal Reserve Jerome Powell once again pointed to the persistence of high inflation risks and admitted the possibility of raising the discount rate at the next meetings. This alerted the market, as many traders were previously confident that the regulator will not change rates until the end of the year, but now investors do not exclude the possibility of a rate hike at the November meeting.

ECB head Christine Lagarde also pointed to high inflation expectations in the economy and emphasized that it is too early to talk about victory over inflation, so the regulator will have to raise the discount rate further. In general, the economic symposium was within my expectations and in my opinion, this week we will see the continuation of the downtrend in this currency pair.

Recommendations: Sell 1.0835/1.0860 and take profit 1.0770.