FX.co ★ The euro is preparing for a new fall

Euro, H4

No chance.

Compare data on the US and EU economies in September:

USA - the industry is small, but growing, the service sector is growing very confidently, the labor market is strong.

Europe - in Germany the industry is bubbling - activity is 40%, expectations are very weak.

The difference is in the energy sector - the United States is fully self-sufficient in both oil and gas * and is actively helping Europe with gas supplies) - and Europe is urgently getting off Russian gas dependence with enormous difficulties and costs. And this is against the backdrop of a global general slowdown in growth.

The euro, of course, jumped out from under the mark of 0.9600 - removing some oversold - but a new entry of the euro to the lows of the year is very likely - and that's where it is necessary to prepare long positions.

Now, in my opinion, it is not worth buying - shorts look more logical, especially from a rebound upwards.