- EUR / USD Forecast indicates a refund in the euro at the beginning of the week.
- Trump met Russia Putin on Friday and said that the leader was more ready to work on the peace agreement.
- The dollar has been recovered to facilitate a bay for reducing fed feet.
EUR / USD Forecast indicates withdrawal in euros because market participants predict a meeting of Trump and Ukraine green. At the same time, the dollar has recovered a little as to reduce the decrease decreased after more data last week.
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Trump met Russia Putin on Friday and said that the leader was more ready to work in a peace agreement, not a truce. However, Ukraine must agree with Russian conditions. Trump will meet the Green on Monday to try to accept that he agrees to the Russian conditions and work to end the war. The peace treaty would step up the euro. However, the opposite may weaken the currency.
Meanwhile, the dollar has recovered how relieved bets on the supply rates schedule. The data has revealed the increase in wholesale inflation and solid sales last week, deleting a mass cut bet in September.
“Until the data show in the same direction, the American economy seems to be shaped in the third quarter,” Bill Adams said, the main economist in the COMICA Bank.
“Fed will probably reduce interest by the end of the year, in September, when the market now in the cut, or several months later, when Comerica forecasts the cut.”
EUR / USD Key events Today
The market participants do not expect key issues from the United States or the eurozone. Therefore, it will focus on geopolitical development.
EUR / USD Technical forecast: Weak swing in Bakara Channel
On the technical side, EUR / USD price trades above 30ths, with RSI above 50, suggesting Bikovska bias. At the same time, the price trades in the bull channel, respecting clear lines of support and resistance. The bulls made a higher height and a series in the canal.
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However, since the bulls smashed above SMA, they did not respect him as support. This means that the price has broken a line several times, which shows the bears are strong. At the same time, while the price made a higher high height, the RSI made lower, indicating a bear divergence. It shows that the bulls lost enthusiasm to get to the new height.
Therefore, bears could try to violate SMA again. In addition, if instant reimbursement increases, the price could be broken from the channel to re-set the support level of 1,1550.
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