The Fed is still a strong proponent of continuing to raise the key interest rate with significant increases and no pauses. However, they prioritize on lowering inflation because they are concerned about the risks of a recession and difficulties in the labor market. In any case, the market is less stressed as a result of the regulator's clear and transparent budgetary actions. On July 8, the US job market data will be released, giving you time to compile and reevaluate your mid-term priorities.
The previous descending wave of the EUR/USD pair has already finished on the H4 chart, and the pair is currently developing the fifth structure of this correction. Possibly, the asset will increase today to at least reach 1.0620 before beginning to trade lower with a target price of 1.0343. This situation is supported technically by the MACD Oscillator, whose signal line is moving in the direction of zero. The line may later bounce back from this point and start falling again to update the lows.
The H1 chart shows that the EUR/USD pair is stabilizing near 1.0550. The pair may continue to rise today until it reaches 1.0620 before beginning another downturn with a stop at 1.0480. This viewpoint is supported technically by the stochastic oscillator, whose signal line is moving in the direction of 80 after breaking apart at 50.
