FX.co ★ Forecast for EUR/USD on July 24, 2019

EUR/USD

Yesterday, US President Trump and the leaders of the Parliamentary factions managed to reach an agreement to lift the limit of public debt before July 31, 2021. Moreover, this agreement was immediately reached, without scandals and disputes. It remains to hold a decision in Congress. Undoubtedly, this is good news for the dollar. Treasury will again offer the world market a very popular product during the crisis - US government bonds, which in turn increases the demand for dollars. In the evening, data on sales of new homes for June will be published - 659 thousand forecast against 626 thousand earlier.

The euro has reached the first goal - a Fibonacci level of 110.0% on a daily scale chart. Now it is the turn of the underlying targets - 1.1116 (lows of May 30 and April 25) and 1.1074 - 123.6% Fibonacci level.

On the four-hour chart, the price weakly consolidates below the level of 1.1155, the uplifted line of the leading Marlin oscillator warns of a likely longer correction (in a few more candles), after which we are waiting for the price to fall once again.