Markets continue to rise amid expectations of a forthcoming Federal Reserve rate cut. Yesterday, the euro gained another 44 pips, coming close to the target range of 1.1140/50. The upper boundary of this range is set by the peak on July 27, 2023. Market participants also anticipate that Fed Chair Jerome Powell will announce an accelerated pace of rate cuts at the Jackson Hole symposium, which begins on Friday.

Earlier, we indicated that investors might receive a 'wake-up call' regarding their excessive expectations of a double 0.50% rate cut by the end of the year, associating this with the September FOMC meeting. However, the situation suggests that this may occur sooner, specifically at the upcoming symposium. In this scenario, market participants will have time to adjust their positions before the FOMC meeting. We anticipate a potential reversal of the euro from the mentioned range of 1.1140/50. The Marlin oscillator has turned downward, signaling a potential slowdown in price growth.

In the 4-hour chart, the Marlin oscillator also does not share the price's optimism, showing a sideways movement visually. The market seems to be slowing down in anticipation of Powell's key speech.