No important events are expected today.

Decrease in quotes to the area of 1.0850/1.0820 should be used to open Buy positions for two reasons. First, there is a rally in precious metals on the commodity market, which is favorable for the strengthening of the euro, as gold and the single European currency historically show a strong correlation. Gold and the euro are seen by investors as the main competitors to the U.S. dollar, as the world’s central banks hold mostly dollar, euro and gold in their reserves.

Central banks constantly revise the share of these assets in their reserves depending on market conditions. Secondly, the head of the U.S. Federal Reserve Jerome Powell said that inflation in the U.S. economy is gradually returning to the goal of the monetary regulator, so now there is no need to raise interest rates, which is negative for the dollar.

Recommendations: Buy 1.0850/1.0820 and TP 1.0944.