Euro to dollar EURUSD forecast for today 06/11/2020
The US Fed meeting was positive for the euro. First, monetary authorities revised inflation forecasts - now FOMC executives expect inflation at 0.8% this year and 1.6% next year. This factor allows you to keep the discount rate at the current level of 0.1% in the next two years. For the dollar, this is a serious negative, since during this period a negative real interest rate will be observed. The strength of the dollar has always been kept at a positive real rate, and now the Federal Reserve is preparing us for a long period of negative rates. Secondly, the Fed said that in the coming month it will continue to print money and buy assets in the current volume, to ensure the smooth operation of the credit market. This signal is also negative for the dollar, as it will lead to a serious increase in the money supply.
EURUSD recommendation: Buy 1.1335 / 1.1310 and take profit 1.1421