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Focus will be on FOMC remarks the Congress

Focus will be on FOMC remarks the Congress | 10 July 2019

10 July 2019, EUR/USD

Focus will be on FOMC remarks the Congress

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.

David Johnson
Analyst of «FreshForex» company
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