My dear Diary,
here we go.
It’s Friday afternoon. I had 1h lunch break, and decided to check the markets.
Two days ago, there was a FED meeting, where it was stated that the benchmark interest rate will be kept at 4.25-4.50% level.
What is important is what they told - the expectations - economicp rojections are lower, and inflation is higher.
Maybe they’ll decrease rates in future?
Right now, it’s not so important. It’s summer already, and by the old “Sell in May, and go aways” mentality, I don’t expect some huge impact on the market.
I know… Iran, Israel, Trump, maybe even Putin? Anybody can do some stupit stuff and everything can go to Hell.
And it’s Friday, not very smart time to open trades, so I’m putting pending order.
I decided for EUR/USD.
Timeframe is 4h.
On my chart I can see clear uptrend in the last couple of weeks, especially in the last 3 months.
Also, I see lower highs.
Upward trend is breached… Where it could stop?
Overall, I don’t expect the pair will come near parity, even though ECB lowered rates before FED did.
But some “selloff”, probably.
I used good old Fibonacci, draw it, and the price could potentialy drop to 50% level or even ideal 61…8%-78.6% zone.
Pending entry: 1.15577
TP: 1.12645
SL: 1.1671
If it activates today, I’ll leave it over the weekend.
