EURUSD

The EURUSD pair started the day under pressure from the GDP data released in the morning, indicating a contraction in the German economy and falling below expectations. Throughout the day, all market focus will be on Fed Chair Powell's speech starting at 17:00 Turkey time. Powell's "hawkish" (tight stance) signals regarding future monetary policy could strengthen the dollar, leading to a break of the support level at 1.1180 and a subsequent decline towards the levels of 1.1150 and 1.1120. Conversely, "dovish" (loose stance) messages or emphasis on economic uncertainties could allow the pair to exceed the resistance at 1.1240 and recover towards 1.1275. Trump's speech could also lead to unexpected movements in the pair.