Our free forex signals service today looks at the EUR/USD and we have the entry, stop and take profits levels for you.
The EUR/USD pair bounces off previous highs around 1.1760 amid a weaker dollar and a moderate rebound in risk appetite.
Although a vaccine campaign and growth prospects could undermine any serious attempt by the pair to recover, market participants remain cautious ahead of the pandemic, especially the spread of the Delta variant.
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The Eurozone will release its GDP for the second quarter, construction data, and employment data during the session.
In July, US retail sales are expected to be boosted by industrial and production output, corporate stocks, the NAHB index, and API Weekly US Oil Stocks. There will be a Q&A session with Fed president Powell as well.
While the Euro is expected to remain strong due to strong fundamentals and consistently high morale in the region, the ECB’s reaffirmed cautious stance (since its last meeting) is expected to limit upside potential at the current level.
The region is experiencing an asymmetric economic recovery. Inflation indicators display steady growth. Vaccination rates and advances in the Delta Coronavirus. There may be political excitement surrounding the EU Recovery Fund. This scenario may be strengthened by the upcoming German elections in September. As investors turn to European equities in the wake of the pandemic, the Euro could receive additional oxygen.
EUR/USD free forex signals
TRADING OPINION
Instrument: EUR/USD
Order Type: BUY STOP
Entry price: 1.1794
Stop Loss: 1.1758
TP1: 1.1848
Our Risk Setting: 1%
Risk / Reward Ratio: 1:1.5
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Saqib Iqbal
