- EUR / USD Forecast has turned the bear after the fall below Level 1,1300.
- The American Court’s decision supported the US dollar.
- All eyes are now on US K1 GDP for further incentive.
EUR / USD Forecast has turned the bear after the fall below the key 1,1300 level, marking fresh weeks. In 1,1210. Care ranges from an increase in the US dollar after the American Federal Trading Court paused the imposition of wider rates on import, stating the abuse of authority under Iepat. The decision reduced the fears of the Trade War.
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The American dollar index (DXI) rose above 100.40 due to improved risk mood and the expected sharp increase in American bond returns. The recent court decision may provide an incentive for Outlook growth in the United States and measure to Euro Bikar trend.
According to the ING analyst, Chris Turner, EUR / USD is reasonably lower at American tariff news, because the prospects for American growth growth improve together with risk premium attached to dollar premiums. He also stated that the recent movement of the lower falls could lead to 1,1050, maintaining a wide range of 1.10 to 1.15.
Meanwhile, Trump delay on the imposition of tariffs at the EU until 09. July, offered some respite in markets. However, uncertainty still exists. ECB officials will announce the policy of politics next week. The consensus remains for the second interruption of the course, some officials turned Hawkish, resisting further alleviation.
Recent data of the eurozone added more to the sellers with the inflation of France, which is unexpectedly slowing down. On the other hand, police officers of the ECB and the head of Slovak Central Bank, Peter Kazimir was found guilty of corruption. This development has become a picture of the ECB and raised political noise across Europe.
On the other hand, a recent move in the dollar could be temporary because President Trump can seek alternatives to return tariffs at the end to strive on the dollar.
Today’s main economic data is the US K1 GDP that can provide further incentive on the market. The US dollar erased some gains in anticipation of data.
EUR / USD Technical forecast: Recovery after return
EUR / USD 4-hour graphics card shows that the price remained well supported by growing trend. Today’s bear bear met on solid support and so far has recovered about 60 pips. However, the price is below the 20-period SMA. Meanwhile, the RSI shows a sharp reversal from the resale zone.
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Any upside down will fulfill strong resilience about 1,13,000 per night 1,1340, and then 1,1400. On the flip side, a couple can test today’s lower, at 1,1210 in 1,150, and then 1.1050.
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