#EURUSD @ 1.09711 has rallied on the back of a less hawkish Fed Powell.

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]

• EUR/USD has rallied on the back of a less hawkish Fed Powell.
• The market is pricing in rate cuts, this is weighing in the greenback.

EUR/USD has rallied as the market jumps on a dovish tilt at the Federal Reserve, despite inflation ”running very hot”. However, the Federal Reserve chairman is speaking to the press and he has put no timeline on a pivot, with more rate hikes in the pipeline before a pause ”to get the job done.”

At the time of writing, EUR/USD is taking in the upper quarter of the 1.09 area with printing a high of 1.0985 made so far. The Euro rallied from a low of 1.0852 on the day, completing its daily ATR and bulls keep moving in with eyes on the 1.1000 psychological mark. The Fed terminal rate has fallen to under 4.9% amid chair Powell’s comments:

[/s2If]
Join Our Telegram Group