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EURUSD Forecast And Technical Overview: The FED vs The President

EURUSD Forecast And Technical Overview: The FED vs The President

Bloomberg :

“Federal Reserve Chairman Jerome Powell pushed back against perceptions that the U.S. economy was tilting into a recession while leaving the door open to further interest-rate cuts to keep the country’s record economic expansion on track.

Speaking Friday in Zurich, Powell said consumer spending and support from the monetary policy should help deliver economic growth between 2% and 2.5% this year. His remarks followed a mixed August jobs report and other readings on the economy that show the fallout from President Donald Trump’s trade disputes.”

“The most likely outlook for our economy remains a favorable one with moderate growth, a strong labor market and inflation moving back up close to our 2% goal,’’ Powell said during a question and answer session. “All that said, there are significant risks and we’ve been monitoring those, including slowing global growth, uncertainty around trade policy, and also persistently low inflation.”

To Summarize:

  • ECB is expected to go a stimulus expansion this month. The dimensions of the easing may be bigger than expected.
  • Trump does not want strong USD, however, the FED does not seem to be dovish enough.
  • The US CPI is expected to accelerate for the fourth consecutive month, hitting the highest level since July 2018 at 2.3 percent on-year. That might add support to DXY rally.
  • Another issue is the trade wars. No significant development was seen so far. And there seems to be no further hope. The USD may also gain weight as a safe haven
  • The latest decline in DXY appears to be just a technical correction. – I was expecting this correction as I published in my latest DXY analysis-

We have resold EURUSD at 1.10800. The bearish pressure will remain as long as the price holds below 1.11000.

If the price breaks above 1.11000, two bearish harmonic patterns will be waiting for us to use them as a selling opportunity.

Our near term targets are 1.10000, 1.09860, 1.09560, 1.09250.

Breakdown of 1.09200 support will accelerate the bearish move. Measured Move target of the formation is 1.08300.

Our focus is 1.08600. A daily closing below 1.08800 will trigger the global Dollar Rally. Our medium-term target levels for the EURUSD pair is 1.07500 and 1.06200.

Intraday Trade Opportunity will be published.

Entry alert with targets will be sent to members.

Important Note: New patterns may appear and some emerging patterns may become invalidated. We publish our live charts D1 H4 H1 and M30  with updates and entry alerts.        – Members Only –

Link to EURUSD Live Charts: EURUSD Live Charts



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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

EURUSD Forecast: Technical Analysis: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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