The euro dollar forex trading forecast for EURUSD today 07/03/2019
Short-term dollar generated a positive background. Firstly, in the credit market yield spread on 10-year German and US government bonds decreased, indicating that the downtrend in the euro. Secondly, following the meeting of the ECB's control can lower forecasts for GDP and inflation for the current year that is pessimistic by investors. In the medium term, the euro has a chance to grow, as a report published on the eve of the US trade balance indicates a serious problem in the US economy. The deficit amounted to 621 billion. USD., Which is the highest level in the last ten years. How to cure a disease? The simplest solution - a devaluation of the dollar. J. Trump has repeatedly commented on the excessive strengthening of the dollar, which hurts the economy. In November 2020 Trump will participate in the next presidential elections and it is now necessary to correct this imbalance. In my opinion, the American president in the coming weeks will be actively put pressure on the Federal Reserve and the Treasury, that they should give the market a signal to smooth the devaluation of the dollar.
EURUSD recommendation: Sell 1.1315 / 1.1335, and take profit 1.1278