EURUSD Daily Outlook 29-07-20 – On Tuesday we found out that the Fed is extending its lending programs until the end of the year and the European Central Bank extends bank ban on dividends and stock buybacks. Meanwhile, Australia’s annual inflation turned negative for the first time in 22 years.
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On Wednesday we’ll be eying the all-important FOMC interest rate decision. Analysts are expecting it to remain at 0.25%.
Today I’m looking at the EUR/USD pair which just fell short of the 1.18 resistance level we identified last week on Tuesday but started Wednesday’s Asian session on bullish momentum. With all the volatility expected on Wednesday, we coul see a pullback towards 1.15 towards the end of the week but the general direction remains bullish.
How high do you think the EUR/USD pair can go in the medium term? Head over to the comments section and let me know.
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