Due to strong downside short-term trend and fake breakout of the resistance in the background, I see potential for the further drop..
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EUR/USD rises toward 1.0850 as USD weakens ahead of Fed
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EUR/USD gains traction and rises toward 1.0850 in the second half of the day on Wednesday. Disappointing private sector employment data from the US weighs on the US Dollar and helps the pair push higher ahead of the Federal Reserve's policy announcements.
USD/JPY drops to multi-month lows below 150.00 after BoJ hike
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USD/JPY stays under constant selling pressure and trades at its weakest level in over four months below 150.00. The Bank of Japan's unexpected rate hike and the renewed USD weakness ahead of the Fed's policy announcements forces the pair to extend its slide.
Gold rises to weekly high above $2,420
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Gold builds on Tuesday's gains and trades in positive territory above $2,420 in the second half of the day. The US Dollar struggles to find demand and the 10-year US Treasury bond yield falls toward 4.1% ahead of the Fed policy decisions, fuelling XAU/USD's upside.
Crypto Today: Bitcoin lags as Ethereum and XRP rally, Solana, Dogecoin and BNB trend among traders
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Bitcoin trades sideways under $67,000 early on Wednesday, as BlackRock BTC ETF inflows are shadowed by Ether. Ethereum gears to test $3,500 resistance, extends gains by nearly 2%.
Federal Reserve Preview: All eyes on clues about the Fed's first interest rate cut in four years
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The US Fed will announce monetary policy decisions following the July 30 - 31 policy meeting on Wednesday. Market participants widely anticipate that the US central bank will leave the policy rate unchanged at 5.25%-5.5% for the eighth consecutive meeting.