Sunday, July 21, 2024

The Fed is raising the key US interest rate again today

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EUR/USD

Support / Resistance: 0.9810 - 0.9930

Today will be a very important day for the currency markets and the dollar in particular. During the day, a number of new economic data will become clear, both for the US and for Europe. By far the most important news is the expected hike in US interest rates from 3.25% to an estimated 4.00% at 3:00 PM ET.
At 9:15 AM ET, expect the ADP Employment Change(Oct), just two days before the key Nonfarm Payrolls.
We expect the dollar to strengthen in the after hours. The strategy for today is to open short positions.

You want accurate and profitable signals - this is for you.

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