Analysis of the European trading session

Because of the weekend on Monday in the US, there was no trades, so the focus was on the European session. Trades in Europe took place under the full power of sentiment, which was caused by data from Italy. Thus, the announcement of the data that Italy was not able to form the ruling government and the country is waiting for new elections has sharply undermined the sentiments in the market and sent the euro to annual lows. In conditions of reduced activity because of the weekend, this movement intensified, from which the US currency appreciably strengthened.

The pair EUR/USD, despite attempts to slow down the downtrend, updated the annual minimum and opened the way to the low of November last year (1.1550).

Fig. EUR/USD. Current price – 1.1630

Also, read: “Volatility – the pulse of the market. Volatility indicators »

Andre Green