Today, an important comment from the FED on fiscal policy. The market expects nothing to change. The EUR / USD is in a continual correction after the recent decline on April 26. Always before a FED meeting, traders take profits in fear of a policy change. For me, this is a chance to buy EUR / USD at a better price, assuming Powell won't change the policy.
I currently have two positions, the third will be when the price gets close to the 1.20640 level, from which the price has already rebounded 3 times. Sentiment on EUR / USD is still growing. Yields, which slightly rebounded, are also of key importance. Gold does not react to them, therefore EUR / USD also stands still, in consolidation. I expect to defend the current break (the third one at 1.20638) and the breakout.
EUR remains strong in the long term.
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