Wednesday was marked the speech of the head U.S. Federal Reserve Ben Bernanke, who said that the program of quantitative easing QE may be reduced, but terms of the beginning of reduction aren't established yet.
However, Bernanke said that the earlier tightening of monetary policy could harm the U.S. economy. Possibility of reduction Fed QEIII confirmed by the minutes of the meeting of the Federal Open Market Committee which were published on Wednesday, May 22, where some members supported decrease in volume of purchase of assets in June, subject to continued stable economic growth in the United States.
As said, the managing director of BK Asset Management Kathy Lien, supported by Bernanke's statement, the American national currency could reach record levels of growth, especially with the possible decrease euro on PMI data on eurozone, which will be published in the Thursday, May 23.
Let's remind that to closing of trading, the dollar rose against the euro to the level of 1.2859 while the previous session, closed at 1.2906.
The dollar has formed a rising wave 5 / A - explain experts at the learning-online Department of Masterforex-V Academy. In case of breaking 84.59 high growth of dollar will continue in the form of an author's figure of continuation of a trend "Hound of the Baskervilles by Elder / MF". In the opposite case, you should expect to break through sloping channel and pivot MF 83.55.
