Hey guys,

Our friend of markets, US President Donald Trump met with his Russian counterpart overnight, sending ripples through the political media world, but actually avoided any major market moving ones.

Whether Trump actually believes that Putin didn’t meddle in the US election like discussed is another matter but for me, Markets don’t care because they’re not as stupid as the political media. I mean seriously, what else is he going to say here? It’s all about lip service here and Trump picking his battles. Markets can see this.

In terms of market movers though, we’re just chilling at support resistance levels and waiting for Fed chair Powell to testify. Price is set up for the big moves, I mean just take a look at where USD/JPY is sitting heading into the testimony.

So the Federal Reserve will first release Powell’s prepared statement before he reads it out and then answers lengthy questions from Senators today, and House representatives tomorrow. Keep in mind that this means that the initial price action isn’t everything...

EUR/USD Daily

EUR/USD Hourly

...Initial price action that’s pointing to yet moreee USD strength.

Have a great night.

✌🏻.

Return from Powell Testifies. Initial Price Action Points to yet More USD Strength to forexbrokr's Web3 Blog