Hello traders,

Jerome Powell is going to deliver his first testimony about monetary policy today at 16:00 GMT             +2. Either today and tomorrow´s testimony in the senate are going to be crucial in order to catch more interest rate hike signs.

Currently EURUSD             is facing a clearly bearish medium term trend, unable to clearly break the 1,1768 level, quoting below the 50 SMA and unable to break the 0,386 FIBO neither.

ECB is not expected to have interest rate hikes at least untill summer 2019, even though inflation and GDP growth are aproaching targets.

While EURUSD             remains below 1,1768 the bearish trend will prevail; lets see Powell´s comments!!

Enjoy your trading!

Have a look at my previous forecasts:

JPM

UKOIL