27.07.202011:28 Forex Analysis & Reviews: Trader's diary 07/27/2020. US market, Fed and EURUSD

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S&P 500 continues to weaken.

As you can see, there are first signs of a decline.

In terms of "fundamentals" point of view, last week's employment data showed a sharp slowdown in the US labor market recovery. Now, the question is whether the Fed will try to offer any more incentives. My prediction is no, it won't. The stimulus from the Fed and the US government has already gone too far and it's time to think about the safety of the entire financial system. In case that this is right, a significant correctional decline in the US market will be seen, followed by oil, respectively.

The FOMC meeting will be held on Wednesday night.

EUR/USD:

Traders should fix buy profits if they have not done it yet.

The euro is entering a zone of strong resistance and it is presumed that a noticeable pullback is required for further growth.

Buy deals will be considered from the level of 1.1570 and below.

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