EUR/USD Forecast To Continue Falling

The last week saw the EUR/USD pair hit its lowest levels since September 2013. It fell through the 1.33 level to 1.3285 and is expected to continue heading towards the 1.30 level.

The last week has seen the EUR/USD pair hitting its lowest levels since September 2013 and it is expected to continue in this vein.
The downwards trend is expected to continue as data showed that Euro zone private sector activity has continued to slow this month.
This slowing down is adding to fears that the region’s recovery may be faltering. Activity in the manufacturing sector has slowed to a 13 month low and the Euro zone manufacturing PMI is down to 50.8 from 51.8 in July.
At the same time demand for the dollar has been reinforced after the minutes of the Federal Reserve’s July meeting showed that strengthening recovery and continued improvement in the labour market may cause a move towards tightening monetary policy.