Comment on the situation on a market 24.03.14

The EUR/USD continues its decline

It seems, correlation of forces gradually leaning toward US dollar. After decision  of Federal Reserve tocontinue to reduce incentives, and statements by President Yellen about the likelihood of rate hike in the first half of 2015, relation to the dollar has changed, because there was certainty in this matter. If previously the market could only guess, when this can occur, it appeared landmarks begin to clarify the situation.

Against this background euro remains under pressure and in overcoming the pair EUR USD 1.3750 level it has the potential to continue its decline to 1.3700. If today PMI statistic of Eurozone and Federal Reserve will be no better than forecast, it will lead to a local reduction of the pair. If they prove to be worse than forecast, it will undoubtedly strengthen the downward trend pairs.​