Today the US Treasury will hold a large-scale auction for the placement of treasury bonds in the amount of $134.8 billion, which provides short-term support for the US dollar. Against this background, we can expect a decline in the EURUSD pair quotes to the area of the minimum, where it is advisable to open Buy positions, counting on the continuation of the upward trend.

Fed rate futures now point to a 54% chance of a rate hike at the end of 2022. Last week the figure was 68%. After the economic symposium in Jackson Hole, the market changed its mind about the change in monetary policy in the United States, and this change is clearly not in favor of the “dollar bulls”.

Trading recommendation: Buy 1.1782/1.1755 and take profit 1.1850.