EURUSD Forecast FED Powell and No Man’s Land
Highlights of Powell’s Speech:
The FED interest rate decision and the first meeting of Powell as chairman resulted in a 25 bp increase in current rates and no change in the 2018 dot plot.
Even though there is no definite agreement on the dot plot, for 2019 and 2020, markets get signals of rate hikes above the expectations.
Weekly Chart. Bearish Trend is still valid. – The descending trend line-
1.26500 is the critical resistance. Weekly closing above 1.26500 will take the pair in Bulls Market.