EURUSD: On Friday, the report on the US Nonfarm in June caused the euro to fall, breaking down below the support line of the upward trend which canceled growth. The euro moved into a range state.
From a technical point of view, the upward or downward movement became equally probable.
The direction of movement depends on many factors – and the Fed policy plays an important role here.
It is important for the market to understand whether the Fed is ready to really lower the rate – or will take a neutral position before the start of stagnation or recession in the economy.
In the new week there will be important events on the Fed policy issue: Fed Chairman Jerome Powell will give a semi-annual report on the Fed policy in Congress – on Wednesday and Thursday at 12:00
In addition, on Wednesday, the Fed will report its last meeting (“minutes”) – but against the background of Powell’s speech, this will probably be ignored by the market.
EURUSD: You can buy at a breakthrough of 1.1325 upwards.
You can sell at a break of 1.1180 downwards.
The material has been provided by InstaForex Company – www.instaforex.com
Source:: Trading Plan 07/08/2019 EURUSD