The US Federal Reserve has published fresh statistics on the change in assets on the balance sheet. Over the past week the figure rose by $91.4 billion against an increase of $8.1 billion a week earlier. The Federal Reserve has substantially increased the purchase of assets, while the ECB begins to steadily reduce the rate of buying bonds of the eurozone countries. Such divergence will have a positive influence on the value of the EURUSD pair.

On the other hand, on the commodity market, we see a gold sales, which is negative for the euro, inasmuch as assets are historically correlated with each other. If we take into account the intermarket gold/oil ratio, now the indicator is 23.5 and against this background, gold looks overbought. The precious metal by the end of September can easily update the minimum of last month, which is at 1687.74.

Trading recommendation: flat 1.1740 – 1.1840.