Focus will be on FOMC remarks the Congress | 10 Juli 2019
10 Juli 2019, EUR/USD
EURUSD trading plan:
Focus will be on FOMC chief Jerome Powell's remarks the Congress. Also due is the central bank's June policy meeting minutes. We are expecting negative comments from the head of the Federal Reserve. The decline in industrial production signals the need to reduce interest rates. The trade conflict between Washington and Beijing has a negative impact on American corporations. The futures market in Chicago indicates a 100% probability of a decrease in interest rates of the Federal Reserve on July 31. This is a negative factor for the U.S. dollar.
Trading recommendation: Buy 1.1194 and take profit 1.1245.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
