FX.co ★ Forecast for EUR/USD on July 2, 2019

EUR/USD

So it happened. On Monday, the euro lost 84 points, and this may indicate a withdrawal of players from speculative purchases of the 3rd decade of June. Business media explains yesterday's growth as a market reaction to a truce between the US and China, although in reality China remains under the same duties and sanctions, Trump only promised to reconsider its attitude towards Huawei. If the situation had worsened, then the dollar would also have strengthened, but with other comments, investors are fleeing from risk. This is a key point in understanding the medium-term market outlook.

On the daily chart, the Marlin oscillator signal line entered the decline zone (-0.0009) this morning. On the four-hour chart, the price consolidated below the balance (red indicator) and MACD lines. The immediate goal of the decline is the daily price channel line near the MACD line, at 1.1230. Leaving prices below the line opens up subsequent targets for Fibonacci levels: 1.1156 (110.0%), 1.1074 (123.6%).