Affected by the strong purchasing power of many central banks and the market's expectations for the Federal Reserve to cut interest rates in September, currency prices began to continue to rebound. Before Powell's speech, the dying pie was once pulled to a high of 69,000. However, Powell's comments shocked the market by emphasizing the rise in the neutral rate, causing the current increase to be quickly halved.

Last night, Federal Reserve Chairman Powell spoke again, emphasizing the significant progress in inflation and pointing out that there is no need to wait for the inflation rate to fall below 2% before cutting interest rates, and that the decision to cut interest rates is not based on specific inflation figures. At the same time, he mentioned that although the labor market is still resilient, it is showing signs of weakness. In addition, he also mentioned that the balance sheet reduction process has not yet been completed, and no specific size target for the balance sheet has been set, and the optimal balance point will be found based on experience. This series of remarks seems to reveal the market's doubts about the future direction of the U.S. economy, which in turn affects the current trend of the pie.

Although there was a pullback in late trading in the four hours, the overall upward trend has not changed, showing that bulls currently dominate the market. As for today's market trend, although there was a correction and correction in yesterday's price, it did not fall below the key support. position, showing the market's recognition of this position, and it is expected that the subsequent market will continue to rebound.

From the perspective of time cycle, yesterday’s price continued to rise from the morning to the U.S. trading session, but the correction from early morning to early morning today did not trigger a sharp decline, which means that the market is in the correction stage, and investors can focus on the early morning correction low of 57,000- Look for rebound opportunities near $56,000.

Operation suggestions

57000-56000 long

The target is 60000-61000

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