EURUSD: BUY 1.1350, SL 1.1330, TP 1.1440 | 08 May 2025

Event to pay attention today:

21:00 EET. USD - FOMC Key Interest Rate Decision

21:30 EET. USD - FOMC Press Conference

EURUSD:

EUR/USD failed to hold on Tuesday, marking a new short-term consolidation range near the key 1.1300 mark as traders wait for a reason to move. The key event this week is the Federal Reserve (Fed) rate announcement in the middle of the week, which has pinned investor sentiment to the pole for now.

The Fed's upcoming rate decision on Wednesday remains the focus of markets this week. While many expect the Fed to maintain current rates, investors will be closely monitoring comments from policymakers, especially Fed Chairman Jerome Powell, for any signs that the shift to a rate-cutting cycle may occur sooner than expected.

Recently, the Fed has been facing increasing pressure to lower interest rates. Market participants have consistently sought lower funding costs, and the Trump administration has been particularly vocal in insisting that the Fed must cut rates to ease the cost of servicing US debt. However, this stance runs counter to the Fed's dual mandate of promoting full employment and controlling price stability, which President Donald Trump does not appear to be taking into account.

Trading recommendation: BUY 1.1350, SL 1.1330, TP 1.1440

FreshForex offers a wonderful 300% bonus on every deposit of $100 or more, giving you the opportunity to increase your trading volumes!