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Main » 2019 » June » 7 » Euro Dollar Technical Forex Forecast EUR/USD today 07.06.2019: before the NFP price corrected to the carrying line
Euro Dollar Technical Forex Forecast EUR/USD today 07.06.2019: before the NFP price corrected to the carrying line


Results of the last trading day EUR / USD:

On Thursday, June 6, the euro has risen in price on the day against the dollar to 1.1276. Daily high EUR / USD was fixed at 1.1309. The euro rose sharply against the US dollar after the ECB meeting.

The ECB announced that it would postpone the first increase in interest rates until the middle of next year. Also called the conditions for a new batch of long-term loans to banks (TLTRO program). Banks will be paid interest rate to 0.3% for loans.

The lack of explicit hints on monetary policy easing has pushed EUR / USD to rise to 1.1309.





Planned statistics (GMT + 3): 

At 15:30 Canada is to publish data on the change in the unemployment rate and the number of people employed in May, as well as the production capacity utilization rate in the first quarter. US informed about the change in the unemployment rate, the number of non-farm payrolls, average hourly earnings, average weekly working hours and the proportion of the economically active population in May.

At 20:00 Baker Hughes will report on the number of active drilling rigs for oil production.

At 22:00 the US will be informed about the change in the volume of consumer credit for April.



The current situation is EUR / USD:

With the achieved maximum 1.1309 the EUR / USD corrected to 1.1264. The price is close to the balance line Lb and 45 degrees. We tend to trend sideways until the US session. A surge in volatility is expected after the publication of the report on the labor market in the US in May. The report is important for the Fed, so expect sharp fluctuations in that time.

After peyrolsa focus of attention of traders switch to trade wars. President Donald Trump said that if the contract does not take place, against Mexico trade taxes will be introduced. Rating agency Fitch downgraded Mexico's rating to BBB level.

For two days a couple of euro / dollar swung so that it will have to be consolidated and then three days to recover. At present, support is at 1.1235, resistance - 1.1308. Forecast EUR / USD yesterday did not do because of the press conference, Mario Draghi. Today, we do not because of the US employment market report.


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EUR / USD Forecast Today Alpari



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