The euro is moving steadily towards targets of 1.1190 and 1.1097. On Tuesday, the US dollar was the focus.
EUR / USD pair
On Tuesday, the focus of investors was the US dollar. It was reinforced by the information on Donald Trump's intention to increase import duties on cars by 25% (with the exception of Mexican and Canadian manufacturers), as well as, the statement by the deputy head of the Fed Richard Clarida to continue raising rates next year and positive expectations from Donald Trump and Xi Jinping weekends. Also, the indirect strengthening of the dollar contributes to the collapse of national currencies on the periphery (Brazil, Russia).
On the daily scale chart, the euro is falling below the red line of balance, which shifted to the downside. The signal line of the Marlin oscillator strengthened under the zero line as a promising downward trend.
On the H4 graph, the situation is similar. The lines are below, and they are directed downwards. Marlin is in a negative position.
Today, the second estimate of US GDP for the 3rd quarter is published and an increase is expected from 3.5% to 3.6%.
Earlier targets remain to be at 1.1190, 1.1097.