FX.co ★ Will the euro resume its growth?

The US dollar managed to regain its position against the European currency and the British pound. It resumed after the speech of the European Central Bank, President Mario Draghi, last Thursday.

The United States, the United States, the United States, the United States, the United States, the United States, the United States, the United States of America and the United States of America. president has repeatedly expressed discontent with trade policy.

Do not forget that the US President, himself, threatened once again to take action against trading partners at the end of last week. First of all, it was Trump is seriously unhappy with. The US president hinted at a possible response to the EU's very unfair trade policy towards the United States.

The introduction of restricting US trades with respect to a number of countries can seriously affect the world economic indicators. This will certainly return the demand for the safe haven assets, which, in fact, is the American dollar.

Such statements confirm the intentions of the US dollar. His comments last Thursday led to sharp purchases of the US dollar against most of the world's currencies.

As for the fundamental picture, for today only a number of statements by representatives of the European Central Bank are planned.

From Tuesday, onwards, the preliminary data on the GDP of the eurozone, as well as France began in the market. At the very least, it is expected to maintain the previous rates of economic growth. Also, the main attention of investors will be attracted by the data on the preliminary consumer price index of Germany for January of this year. On Wednesday, the output of the CPI index of the eurozone is planned, as well as the indicators on the German labor market.

As for the current technical picture of the EUR / USD pair, the demand for the euro has clearly decreased, as indicated by the slowing of the upward trend and the intersection of the 30-day moving average with a 50-day top-down. To resume the growth of risky assets, it is necessary to trade at the rates of economic growth. Otherwise, the correction in the EUR / USD pair may lead to the renewal of support levels in the area of 1.2330 and 1.2255. Only from there large new buyers of the European currency can return to the market. This week, a breakthrough and a break above 1.2530 will open a direct road to the area of new annual highs, with an update of 1.2600 and 1.2650.