Introduction
You must be emotionally and psychologically fit in order to take a perfect trading decision in the financial market. You cannot take a good trading decision if you are emotionally or psychologically down.
Economic Calendar (GMT+1)
Analysis of EURUSD
Fundamental Analysis
Markets expect the ECB to keep its key rates on hold today after cutting the rates for the first time in five years in June. The main refinancing rate was lowered by 25 basis points to 4.25 percent. The bank is also set to refrain from providing more information about its future course of action as they are more concerned about the strength of wage growth and underlying inflation.
EURUSD Chart Analysis
Analysis of GBPUSD
Fundamental Analysis
The U.S. dollar fell against most of its major counterparts on Wednesday amid continued optimism about an interest rate cut by the Federal Reserve in its September meeting. Fed Chair Jerome Powell said earlier this week that three inflation readings over the second quarter of this year provided policymakers greater confidence that the pace of price inflation increases is returning to the central bank’s 2% target. New York Fed President John Williams said in an interview to the Wall Street Journal, indicated that recent inflation readings are getting the policy makers closer to a disinflationary trend that they are looking for.
GBPUSD Chart Analysis
Analysis of GBPJPY
GBPJPY Chart Analysis
Analysis of XAUUSD
XAUUSD Chart Analysis
Analysis of WTI
Fundamental Analysis
Crude oil prices rose sharply on Wednesday after data showed an unexpected sharp drop in U.S. crude inventories last week, while a weaker dollar also provided support. West Texas Intermediate Crude oil futures for August rallied $2.09 or 2.6 percent at $82.85 a barrel.
WTI Chart Analysis
Conclusion:
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