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Due to hesitation, I lost a billion dollar opportunity
[ECONOMIC CALENDAR] - Today, July 5, 2024
After yesterday's US National Day holiday session, today's market continues to receive a series of important information focused on the US trading session.
19:30 (CAD): Change of job
19:30 (CAD): Unemployment rate
19h30 (USD): Average hourly earnings m/m
19:30 (USD): Change in non-agricultural employment
19:30 (USD): Unemployment rate
Today will be a very volatile day for the USD and gold

💎AUDUSD Analysis💎
🔸Currently, the AUD/USD currency pair is showing signs of creating a peak around the 0.6660 area. Amid a strengthening USD, downward pressure on AUD/USD is expected to continue today.
⚜️SELL AUDUSD 0.66610⚜️
🔺SL 0.66800
❇️TP1 0.66500
❇️TP2 0.66350
❇️TP3 0.66200

💎GBPUSD Analysis💎
🔸Currently, the GBP/USD currency pair is showing a significant downward trend due to the weakening of the British Pound after the Bank of England (BOE) decided to keep interest rates unchanged. In addition, the geopolitical situation in the UK is also experiencing strong fluctuations, putting pressure on the GBP. Given these factors, the downside outlook for GBP/USD remains high.
⚜️SELL GBPUSD 1.26630⚜️
🔺SL 1.26900
❇️TP1 1.26500
❇️TP2 1.26300
❇️TP3 1.26150
❇️TP4 1.26000

SUMMARY OF FED DECISION JUNE 2024

1. FED keeps interest rates unchanged from 5.25% - 5.5%, the 7th consecutive time since the September 2023 meeting

2. The median forecast calls for just one rate cut in 2024, down from three in the March 2024 meeting

- There are 8 out of 19 FED officials who want to reduce interest rates twice this year
- There are 7 out of 19 officials who want to reduce interest rates just once this year
- And the remaining 4 officials want to maintain the current interest rate, increasing from level 2 at the March 2024 meeting.

3. Most agree that there will be a drastic reduction in interest rates in 2025. There are 5 cuts, a total of 1.25%, bringing interest rates to around 4.1% in 2025 (One less time than predicted in March to decrease 6 times, bringing interest rates to around 3.9% in 2025)

4. Raise forecasts for both core PCE and overall PCE inflation in 2024 from 2.6% to 2.8% and 2.4% to 2.6%, respectively -> Fed is not confident about the process of reducing inflation!

5. The FED said inflation "has cooled down but remains high" and the positive news is that the FED commented that the inflation reduction roadmap has made "modest progress", instead of "lack of progress" compared to comments. before

6. Unemployment rate is expected to remain around 4% in 2024 (Stay the same as currently) and may only increase to 4.2% in 2025

7. GDP growth forecast remains at +2.1% in 2024 as at the previous meeting. Both unemployment and GDP forecasts rule out the possibility of a hard landing by the Fed

In short, the FED was much MORE hawkish on interest rates compared to the March meeting, but this was not too surprising and still within market expectations.

💎AUDUSD Analysis💎

🔸AUDUSD: This pair has confirmed a trend reversal after breaking the important support zone at 0.6590. Forecast for this week, AUDUSD is likely to continue to experience strong selling pressure, with the goal of falling deeper to the 0.6470 price range. Investors should consider a selling strategy with the following specific parameters

⚜️SELL AUDUSD 0.6590⚜️

🔺SL 0.6650
❇️TP1 0.6570
❇️TP2 0.6530
❇️TP3 0.6500
❇️TP4 0.6470

With this trend, BTC price may continue to decline due to economic fluctuations