EUR/USD: All Eyes on the Fed as the Range Reaches Its Breaking Point
Source: Action Forex - https://www.actionforex.com/contributors/technical-analysis/648780-eur-usd-all-eyes-on-the-fed-as-the-range-reaches-its-breaking-point/
Published: Jul 29, 2026 4:20 AM
The dollar's next move hinges on tonight's Fed decision, and this time markets genuinely don't know what to expect. While economists still lean toward a hold—with CME FedWatch odds sitting near 68.5% for no change—Kevin Warsh's hawkish rhetoric on having “no tolerance” for inflation, paired with growing internal FOMC support for a hike, has pushed hike odds up sharply from just 18% two weeks ago to over 30% today.
Market context: This update is relevant to EUR traders, with EURUSD as the primary instrument to monitor for follow-through, trend continuation, or headline volatility.
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