FX.co - Breaking forecast 07/10/2019 EURUSD and trading recommendation

2019-07-10T08:10:34

Relevance until2019-07-11

On Wednesday (and then on Thursday) - the Fed chairman's report in Congress at 12:00 London time.

The main question is whether the Fed will cut rates.

The market expects that the Fed will reduce the rate in July by 0.25% - but the question is whether it will be a one-time cut.

EURUSD: If the Fed chairman confirms plans to reduce the rate, the euro will increase.

From the point of view of technical analysis, it is possible to buy at a break above 1.1235 and further, from 1.1325.

In case of a downward reversal, you can sell from 1.1180.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Dean Leo

FX.co ★ Breaking forecast 07/10/2019 EURUSD and trading recommendation