Forex forecast of the euro against the dollar today, the EURUSD 03/03/2020
Forex traders in the EUR / USD pair today there are two reasons for the euro in sales. First, some representatives of the ECB said that the central bank is ready to increase incentives to combat the coronavirus. The next ECB meeting will be held next week of March 12 and the regulator may reduce interest rates and increase the program of QE. For the European currency is a negative signal, as monetary authorities several times to take such measures in the past 5 years, and always there was a decline of the euro. Second, investors will continue to increase "shorts" in gold, which also carries risks for the euro, since both instruments are highly correlated with each other. Investors are waiting for lower rates from the ECB and the Fed, and on this background, the gold loses its attractiveness for investment.
EURUSD recommendation: Sell 1.1184 / 1.1200, and take profit 1.1140