The euro \ Dollar Forex EURUSD forecast for today 05/07/2019
Traders today - three reasons to buy EUR / USD
First, the credit market yield differential on 10-year German government bonds and US renews the maximum in the last five weeks, indicating a continuation of the short-term uptrend for the euro.
Second, there is the demand for energy, which is also positive for the euro, because of its direct correlation with oil BRENT. Investors buy oil to a decline in raw material supplies from Venezuela, Iran and Russia (with the pipeline problems Friendship).
Third, the central bank of China announced monetary easing: the required reserve ratio for small and medium-sized banks will be reduced from 11.5% to 8% in the period from 15 May to 15 July. Such news from China has always had a positive impact on the value of the euro.
EURUSD recommendation: Buy 1.1195 / 1.1175, and take profit 1.1251