Eurozone Data Ahead EURUSD H1 Chart Technical Overview,
FOMC Statement and Powell’s speech showed that “no change on the FED’s stance”
The central bank kept rates unchanged as expected. Chairman Powell, however, pushed back expectations that the central bank’s next move would be a rate cut by associating low inflation with transitory factors. Powell added further that there is no strong case for a rate move in either direction, disappointing traders looking for a hint of a rate cut.
USD is still the strongest currency.
The pair is trading below 1.12200.
A bearish flag pattern is being printed on the H1 chart.
Germany Retail Sales data will be released. A worse than expected data may trigger the bearish flag pattern
Our Short Setup
Target 1: 1.11700
Target 2: 1.11600
Target 3: 1.11400 ( Structural Target of the Flag Pattern )
VERIFIED ACCOUNT AND SETUP RESULTS
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