A very important chart for those who are trading macro portfolios and navigating flows around the US-China trade war.
From a strictly waves perspective we are tracking an ending diagonal and the beginning of a 3rd large impulsive wave. Smart money is fishing around these levels and noise on mainstream media is reaching all time highs.
It is no surprises Trump being forced to backtrack and sell the 'deal' as a good one for his 2020 campaign... Expecting a bounce in EURUSD from current levels with an invalidation level coming into play below 1.094x.
On the Rate differentials side; we can see the fundamental levels each marked in blue @ 1.13; 1.16 followed by 1.19. Trump already guaranteeing a September cut earlier in the month is providing some room to allow talks with China to ease and show moderate progress.
Best of luck all those on the buy side...a very courageous call.