After the EU tariff agreement on July 28, the euro fell from 1.1770 to 1.1390. Later, after the U.S. July jobs report, it recovered to 1.1730, but since then it has been moving sideways.
The fall in U.S. long-term interest rates and the view that the European Central Bank will stop cutting rates are supporting the euro. On the other hand, political problems in France and worries about Europe’s economy are limiting the euro’s rise.
Today’s U.S. jobs report is likely to be weak. Even if the dollar selling becomes stronger, it will be difficult for the euro to go above the mid-1.17 range. Even if it does rise, the July 28 high will limit it.
Euro–Dollar expected range: 1.1580 – 1.1730 USD
Note: This information does not guarantee profits. Please make your own decisions when trading.