POTUS wanted lower rates, the outcome on the USD, not so much.

Oh Boy, POTUS is definitely not happy. He was putting pressure on Jerome Powell and FED to lower the rates to weaken the USD and boost the stocks.
Tomasz Wiśniewski
POTUS wated lower rates, the outcome on the USD, not so much.

Rates were cut yesterday and Dollar gained and stocks went down. Well, that’s just the market mechanics, buy the rumors and sell the facts, right? In today’s analysis we have three nice trading setups and two of them are with the USD.

First one is Gold, which finally made a movement coming from the technical setup from two weeks ago. On the 18th and 19th of July, the price made a false breakout above the horizontal resistance on the 1436 USD/oz. False breakout are usually good signals for a reversal and that started yesterday (with the fundamental help from the USD). The aim for this movement is 100 USD lower than the mentioned resistance but the demand is really strong, so sellers may have a problem to reach that area.

USD/CHF was mentioned by us at the beginning of this week. We said that the setup here is bullish, despite the weak start on Monday. We were right, the price did go higher and today at night reached the highest levels since the middle of June. The buy signal is definitely ON.

In our previous trading sniper videos we also mentioned the EURPLN, where we were bullish too. The price also moved in the direction that we anticipated. Setup here remains bullish and is even stronger after the EURPLN respected the broken neckline as a closest support.

This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis

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