EUR/USD: Dovish Policy Expected

EUR/USD: Dovish Policy Expected

2021-07-28 • Updated

What will happen?

FOMC statement will be announced at 21:00 MT (GMT+3) on Wednesday, July 27. In the previous article, we have already mentioned the importance of this event. 

Let's look at the charts and decide what will be the best option to choose.

Technical analyses

Daily chart

EURUSDDaily.png

On the daily chart EUR/USD has formed a “falling wedge”. Moreover, the price broke through the top line of the figure and tested it from the above.  Last weekend Bitcoin also broke its rising wedge and gained 15% after shortly. This setup gives us confidence in long trade with the target of $1.193.

Bitcoin daily chart

BTCUSDDaily (1).png

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GBP/USD Is Ready for Reverse Up
GBP/USD Is Ready for Reverse Up

GBP/USD is moving inside the ascending channel. Since it’s in the lower part of this channel, the pair should reverse up and continue moving in zig-zag.

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