On Wednesday, Federal Reserve Vice-President Richard Clarida had a strong influence on the dollar's appreciation, who announced a likely revision of the central bank's monetary policy this year due to accelerated inflation. With this speech, he spoke in defiance of the head of the Fed Committee on Financial Stability Lael Brainard (likely successor of Fed Chairman Jerome Powell), who spoke a day earlier. The market did not pay much attention to the disastrous data on jobs in the private sector - the ADP Non-Farm Employment Change in July showed only 330,000 new jobs against expectations of 695,000 and 680,000 in June, revised down from 692,000...
So, we see an internal struggle within the Fed and a struggle in statistical indicators in the United States itself, since ADP Non-Farm has different correlations with Non-Farm Employment Change, while the latter is subject to stronger manipulation by the Department of Labor. And what task is set for the markets for the next period (1-2 months) the government, under external observation, has become completely unclear. It remains to wait for the Friday events.
On the daily chart, the price moved below the target level of 1.1847, the Marlin Oscillator is declining, but this four-day uneven decline may just be a correction with a false exit below the level before further growth in case of weak Friday data.
On the H4 chart, the price has formally settled under the MACD indicator line, Marlin is in the decline zone, but is already turning up. It is not advisable to undertake any trading actions before Friday.
