US Independence Day.
The euro dollar forex EURUSD forecast for today 04/07/2019
Today we can be baptized as the "calm before the storm" as the output States. Tomorrow we will get the latest labor market data for June, and leading indicators point to a negative output of the release. First, the ADP figure is 89 thousand. Below the average for the last twelve months. First, from the time in June ISM was 2% lower than the previous year. Against this background, Non-Farm figure could be worse than expected median (164 thous.), Which will increase the likelihood of the US Federal Reserve lowering interest rates. Already, the futures market in Chicago indicates a two-fold reduction in rates at the meetings of 31 July and 18 September. Many central banks to cut interest rates this year, and the Fed will join colleagues in this month, that will negatively affect the value of the euro. Today you can expect moderate growth of quotations of the single European currency.
EUR / USD recommendation: Buy 1.1275 / 1.1260, and take profit 1.1301