The US dollar has perked up this week and currently trades around 150 pips higher than this week’s 99.50 low print. Recent US economic data has been marginally better than expected, while the US dollar index has been boosted by a bout of weakness in a range of basket currencies. With no Federal Reserve speakers scheduled until after next Wednesday’s FOMC policy decision, the US dollar may consolidate this week’s gains ahead of the Fed’s decision.
Ahead next week are two central bank policy meetings that will direct EUR/USD in the coming weeks. The Federal Reserve is expected to announce a 25 basis point rate hike on Wednesday, July 26 at 19:00 UK time, while the European Central Bank is also expected to lift rates by a quarter of a point the next day at 13:15 UK. Both central banks will have press conferences 30 minutes after their decisions are announced and these will be key for any clues to future action by both the FED and the ECB. It will be a volatile time for EUR/USD traders.
EURUSD
SELL 1.1140 - 1.1150 💯💯
✅ TP1: 1.1110
✅ TP2: 1.0990
🛑 SL: 1.1200
Ahead next week are two central bank policy meetings that will direct EUR/USD in the coming weeks. The Federal Reserve is expected to announce a 25 basis point rate hike on Wednesday, July 26 at 19:00 UK time, while the European Central Bank is also expected to lift rates by a quarter of a point the next day at 13:15 UK. Both central banks will have press conferences 30 minutes after their decisions are announced and these will be key for any clues to future action by both the FED and the ECB. It will be a volatile time for EUR/USD traders.
EURUSD
SELL 1.1140 - 1.1150 💯💯 ✅ TP1: 1.1110
✅ TP2: 1.0990
🛑 SL: 1.1200
Comment:
HIT TP2 . +50PIPS ✅✅✅
