Good afternoon, esteemed trader-investors! In today’s market review for Wednesday, July 29th, we discuss the current state of the markets ahead of this week’s main event: the FOMC rate announcement and the subsequent Fed press conference! While interest rates are expected to remain unchanged, the regulator’s rhetoric is guaranteed to trigger a couple of powerful impulses that will shake up the market.
The main topic today is hunting for reversals in a falling market ahead of the US Dollar news. We analyze the setup on Gold (XAU/USD), where Asian session traders finally bought the dip via a long market structure break after a prolonged decline. The upside potential from current prices to the $4,220 level stands at an unthinkable 20,000 points—an incredible 3-to-1 risk-to-reward ratio!
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00:00 INTRODUCTION
00:15 NEWS
00:56 GOLD
02:40 Euro / US Dollar
03:45 British Pound / US Dollar
06:04 US Dollar / Canadian Dollar
06:16 US Dollar / Japanese Yen
06:46 OIL
07:29 BTC / USD
08:19 U.S. MARKET
08:50 US Dollar / Swiss Franc
09:06 Canadian Dollar / Swiss Franc
09:13 Australian Dollar / Canadian Dollar
09:28 New Zealand Dollar / Swiss Franc
09:33 Australian Dollar / New Zealand Dollar
09:39 Euro / Australian Dollar
09:45 Euro / Canadian Dollar
10:40 SILVER
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