empty
InstaForex - Official partner of Dragon Racing
InstaForex - Official partner of Dragon Racing
This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.
Start as Beginner
How to start trading
Useful information
Training and recordings
InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.
Become Investor
PAMM System
ForexCopy System
Passive investments
Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.
Become Partner
Main Page
Partner Area
Advantages for Affiliates
Registration
This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.
All Promo Campaigns
Bonuses
Contests
Events
Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.
Full details
Forums
We are in social networks
Forex humour
Forex Portal
InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.
Learn More
History
Why Choose Us
InstaSport
Regulation
Company News
Awards
InstaForex Stars
InstaForex Offline
Headquarters
Key documents
Social Responsibility
24.04.2025 09:59 AM
Powell Can Sleep Soundly
Open trading account Open demo account

Markets responded with gains, and the US dollar strengthened against the euro and other risk assets after US President Donald Trump said he had no intention of firing Federal Reserve Chairman Jerome Powell, despite his disappointment that the central bank isn't taking more aggressive action to cut interest rates. "Never," Trump told reporters. "No, I'm not going to fire him. I just wish he would be a little more aggressive in his thinking about lowering interest rates."

This image is no longer relevant

Kevin Hassett, Director of the National Economic Council, told reporters last Friday that Trump had been reviewing whether he could dismiss Powell, following a series of social media posts and public comments criticizing the Fed. Last week, the president launched another tirade against Powell, right before the European Central Bank cut its key rate by a quarter point to 2.25% — about half the Fed's current rate of 4.25–4.5%.

Trump has repeatedly complained that the Fed is not cutting interest rates quickly enough, repeating his criticism during a recent speech and insisting that the market turmoil surrounding his comments was exaggerated. "We believe now is the time to cut rates, and we'd like the Fed Chair to do that in a timely manner — not too late," Trump said.

For reference, Powell and his colleagues have so far kept interest rates unchanged after cutting them by a full percentage point in the final months of 2024. Policymakers are waiting to see how the economy responds to the Trump administration's latest moves on tariffs, tax reforms, deregulation, and immigration.

Most Fed officials have stated that current policy is in a good place and that the central bank needs to maintain some pressure to keep inflation in check, which has remained above the 2% target for four years.

The US economy grew at a healthy 2.8% last year, but economists now believe tariffs will slow growth by the end of 2025. While the Fed traditionally cuts rates to support the economy in such cases, Powell and some of his colleagues have indicated that the central bank may have to prioritize the inflation side of its dual mandate, especially as tariffs could once again spur inflation.

In addition, the US dollar showed increased stability against a range of other currencies, as the White House said the administration was making progress in negotiations on trade deals aimed at reducing tariffs announced earlier this month.

Current EUR/USD Technical Picture

Buyers must focus on reclaiming the 1.1360 level. Only then will a test of 1.1430 become possible. From there, the path may open toward 1.1500, although reaching it without the support of large market players could be quite difficult. The furthest target is the 1.1570 high. If the instrument declines, I expect major buyer activity only near 1.1280. If there's no interest there, it would be prudent to wait for a new low around 1.1210 — or consider entering long from 1.1150.

Current GBP/USD Technical Picture

Pound buyers need to reclaim the nearest resistance at 1.3300. Only then will it be possible to aim for 1.3350, a level that has proven difficult to break. The furthest target is the 1.3416 level. In case of a decline, bears will attempt to regain control over 1.3240. If they succeed, a break of that range would deal a serious blow to the bulls and push GBP/USD down to the 1.3205 low, with a possible move toward 1.3165.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
All Analytics
Forecast
USD/JPY: Simple Trading Tips for Beginner Traders for April 29th (U.S. Session) The test of the 142.69 price coincided with the MACD indicator having already moved significantly above the zero mark, which limited the dollar's upward potential. For this reason
Jakub Novak
19:18 2025-04-29 +02:00
1075
Forecast
GBP/USD: Simple Trading Tips for Beginner Traders for April 29th (U.S. Session) The test of the 1.3383 price coincided with the MACD indicator moving well below the zero mark, which limited the pair's downside potential. For this reason, I did not sell
Jakub Novak
19:01 2025-04-29 +02:00
1090
Breaking Forecast Trading Plan Cryptocurrencies USD/RUB Russian Economy Video Analysis
Trading Instruments
EURUSD GBPUSD USDCHF USDCAD USDJPY AUDUSD EURGBP EURJPY NZDUSD EURNZD Silver Gold #CL #USDX COVID-19 Bitcoin
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Further Tariff Concessions from Trump

According to rumors and statements from officials, U.S. President Donald Trump intends to soften automobile tariffs by supporting some changes sought by the industry. This will allow for the cancellation
Jakub Novak 18:48 2025-04-29 UTC+2

Trade Negotiations Between China and the U.S. Are Ongoing. Markets Await Results (There Is a Risk of Local Declines in EUR/USD and GBP/USD Pairs)

Markets have once again paused amid uncertainty over whether a trade agreement between the U.S. and China will be reached anytime soon. The cloud of uncertainty that Donald Trump
Pati Gani 10:04 2025-04-29 UTC+2

The Market Has Licked Its Wounds

The market always keeps us engaged. Despite all the gloomy talk of recession, trade wars, supply shortages, inflation, and layoffs, the S&P 500 has declined by just a little over
Marek Petkovich 09:10 2025-04-29 UTC+2

What to Pay Attention to on April 29? A Breakdown of Fundamental Events for Beginners

Very few macroeconomic events are scheduled for Tuesday, and none are significant. If we set aside all the tertiary reports, such as the GfK Consumer Confidence Index in Germany
Paolo Greco 07:00 2025-04-29 UTC+2

GBP/USD Overview – April 29: Are Labor Market and Unemployment Data Important?

On Monday, the GBP/USD currency pair also traded with low volatility and mainly moved sideways, although the British pound maintained a slight upward bias. Despite the lack of market-relevant news
Paolo Greco 04:33 2025-04-29 UTC+2

EUR/USD Overview – April 29: The Weak Yield, the Strong Resist

On Monday, the EUR/USD currency pair remained immobilized. There were no updates over the weekend from Donald Trump regarding trade developments, and no important data or events were scheduled
Paolo Greco 04:33 2025-04-29 UTC+2

The Euro Looks for a Basis for Another Upward Surge

Business activity indices in the eurozone are declining amid heightened uncertainty. The composite index in April fell from 50.9 to 50.1, nearing contraction territory. At the same time, Germany's
Kuvat Raharjo 00:54 2025-04-29 UTC+2

The Dollar Continues to Sell Off, Outlook Remains Weak

As shown by the latest CFTC report, U.S. dollar futures indicate a further deterioration in its outlook. During the reporting week, the net short position on the USD increased
Kuvat Raharjo 00:54 2025-04-29 UTC+2

Bitcoin Can't Lose

There's never a dull moment with Bitcoin. Sometimes it behaves like a risky asset, sometimes like a safe haven. At the beginning of April, the cryptocurrency was jokingly referred
Marek Petkovich 19:03 2025-04-28 UTC+2

The Market Has Outplayed the Professionals

"Follow the smart money" — this classic principle of technical analysis suggests it's safer to side with professionals rather than the crowd. However, in 2025, such an approach would have
Marek Petkovich 19:00 2025-04-28 UTC+2

Top analytics

Relevance up to 01:00 2025-04-30 UTC--4
EUR/USD: Simple Trading Tips for Beginner Traders on April 29. Review of Yesterday's Forex Trades
08:22 2025-04-29
Forecast
Relevance up to 22:00 2025-04-29 UTC--4
EUR/USD Overview – April 29: The Weak Yield, the Strong Resist
04:33 2025-04-29
Fundamental analysis
Relevance up to 01:00 2025-04-30 UTC--4
USD/JPY: Simple Trading Tips for Beginner Traders on April 29. Review of Yesterday's Forex Trades
08:22 2025-04-29
Forecast
Relevance up to 03:00 UTC--4
Trade Negotiations Between China and the U.S. Are Ongoing. Markets Await Results (There Is a Risk of Local Declines in EUR/USD and GBP/USD Pairs)
10:04 2025-04-29
Fundamental analysis
Relevance up to 00:00 2025-04-30 UTC--4
How to Trade the EUR/USD Pair on April 29? Simple Tips and Trade Analysis for Beginners
06:43 2025-04-29
Trading plan
Can't speak right now?
Ask your question in the chat.
Widget callback
Callback widget
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.