Hello traders
My previous EUR/USD long did not pan out but I am swinging again. My entry order at 1.0563 was filled by the skinny skin of my teeth but so far so good. I'll use a trailing stop for this trade.
The pressure on Fed Chair Powell is being ramped up by Trump's attack dogs with allegations of mismanaging Federal funds(gasp :) ) during the FOMC headquarters.
We all saw the result of the rumor that Powell was fired/is considering resigning yesterday and as much as I am sure it pained DJT, he had to refute the rumor, no doubt on advice from Bessent.
In addition, FOMC board member Waller publicly dissented today and suggested a rate cut at the July meeting.
On the economic calendar we have the ECB rate decision, JOLTS, ADP and finally FOMC over the next two weeks.
This is purely a technical play but I am keeping a close eye on the bond markets, the
CME FedWatch tool and as for trade and tariffs, who cares...
I mentioned the Federal Court of Appeals case regarding the IEEPA court decision starting on 7/31/2025. For anyone interested in the court's decision,
cafc.uscourts.gov/home/the-court/notices-announcements/
More importantly, you can sign up for a notification at courtlistener.com which is a free service.
I have used it in the past and not only is it free but I also received the notification in a very timely manner.
courtlistener.com/opinion/10594191/vos-selections-inc-v-trump/?q=V.O.S.+Selections,+Inc.+v.+Trump
Best of luck.
My previous EUR/USD long did not pan out but I am swinging again. My entry order at 1.0563 was filled by the skinny skin of my teeth but so far so good. I'll use a trailing stop for this trade.
The pressure on Fed Chair Powell is being ramped up by Trump's attack dogs with allegations of mismanaging Federal funds(gasp :) ) during the FOMC headquarters.
We all saw the result of the rumor that Powell was fired/is considering resigning yesterday and as much as I am sure it pained DJT, he had to refute the rumor, no doubt on advice from Bessent.
In addition, FOMC board member Waller publicly dissented today and suggested a rate cut at the July meeting.
On the economic calendar we have the ECB rate decision, JOLTS, ADP and finally FOMC over the next two weeks.
This is purely a technical play but I am keeping a close eye on the bond markets, the
CME FedWatch tool and as for trade and tariffs, who cares...
I mentioned the Federal Court of Appeals case regarding the IEEPA court decision starting on 7/31/2025. For anyone interested in the court's decision,
cafc.uscourts.gov/home/the-court/notices-announcements/
More importantly, you can sign up for a notification at courtlistener.com which is a free service.
I have used it in the past and not only is it free but I also received the notification in a very timely manner.
courtlistener.com/opinion/10594191/vos-selections-inc-v-trump/?q=V.O.S.+Selections,+Inc.+v.+Trump
Best of luck.
Trade closed: target reached
My target at the weekly low of 1.1707 was reached this morning. My short entry order at 1.1710 was also triggered with a tight stop above 1.1717.I am aiming for the weekly low of 1.1662 and may revert to long again form that level.
The ECB rate decision will probably be no change but the press conference is the event to watch.
The market will probably stay within the 1.1612-1.1717 range until then. However, more Jerome Powell rumors may change that. And tariff announcements....sigh
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.