On Monday, July 1, the bidding for the euro / dollar closed lower. Meeting US President Donald Trump and President of China Xi Tsinzenpina reduce tensions between the two countries, but it has received support from the US dollar rather than the euro. The G20 summit has lowered market expectations for the decline in the Fed's interest rates this year.
The Heads of State agreed to resume trade negotiations. US will not impose new tariffs on Chinese goods and to ease restrictions for the company Huawei. China will increase its purchases of agricultural products from the United States.
In the American session the dollar was supported by the statistics. index of manufacturing activity in the US in June was slightly higher than expected and amounted to 51.7 points. As a result, EUR / USD dropped to 1.1281.
Planned statistics (GMT + 3):
At 11:30 UK will release PMI index for the construction sector in June.
At 12:00, the euro zone will release the producer price index for May.
At 17:05 will make a speech the head of the Bank of England Governor Mark Carney.
At 22:00 the US will be informed about the change of the total car sales for June.
At 23:30 the American Petroleum Institute will publish a report on oil stocks.
The current situation is EUR / USD:
Yesterday was bullish on the dollar side, so buyers attempt to EUR / USD to keep the price above 67 degrees failed. The price dropped to 112-135 m zone. At the time of writing, the euro is worth 1.1292 review.
According to the forecast EUR / USD waiting for updates minimum. The purpose of it - 1.1252 (135 gr.). To begin upward correction need only to update at least 1.1275. Between the JSC and the cost of a weak bullish divergence, but as the Stochastic Oscillator is in the area of sales, sales EUR / USD once again try to go down.
To customers EUR / USD to reverse the situation, they need today to raise the price to book the line and get the price per channel. Intermediate support level 1.1270.
Forex EUR / USD forecast today Alpari