Donald Trump's approval ratings continue to plunge. According to a new Reuters poll, only 32% of Americans approve of the president's performance. Among Republicans, support has fallen to 73%. Remarkably, 32% approval is a new personal low for Trump. As I have said many times, the main complaint Americans have about Trump's policies is the rising cost of living. I have said repeatedly that many Americans don't even know where Iran is on the political map — they simply don't care. What matters to them is how much fuel costs at the pump and how quickly prices for essentials are rising. And on that front, things are bad. Diesel in the US set a new record yesterday, reaching $6.50 per gallon. So I'm not surprised that a majority of Americans oppose the incumbent president, who, unsurprisingly, claims to be "the greatest in US history."

The Reuters poll also shows that, for the first time, the number of Republicans unhappy with Trump's handling of the cost?of?living issue now exceeds those who are satisfied. Only 34% of respondents support a war with Iran, and 82% believe the conflict will last a very long time. The poll also found that 43% would vote for Democrats in upcoming elections, while only 35% would vote Republican — the largest gap seen in 2026 so far.

Meanwhile, Trump has launched a new battle — this time a media war. Yesterday the president revoked White House press credentials for CNN, MSNBC (MS NOW), and Politico. In short, those outlets were expelled from the White House. Donald Trump justified the decision by accusing them of "spreading fake news." All three companies have filed lawsuits, and five other major networks announced a boycott of Trump and voluntarily gave up any White House broadcasts. It seems likely Trump may soon need not only his own social network, where he can post whatever he likes, but also his own TV channel to broadcast as he pleases. In my view, this is another unprecedented Trump episode. I still wonder what made Americans elect a Republican president for a second time.

November 3, when the midterm elections to Congress kick off, promises to be very interesting. Personally, I believe Republicans, thanks to Trump, will at least lose the House of Representatives. But the president still has another month and a half to persuade Americans not to vote for Republican senators either.

Wave analysis for EUR/USD

Based on my analysis of EUR/USD, I conclude the currency pair remains within a broad corrective segment labeled A?B?C?D?E. If this assumption is correct, the decline will continue toward levels below the low of wave C — 1.1325. I regarded this scenario as an alternative; if not for the Fed meeting, it would have remained a backup view. But the Fed surprised the market, leaving it no option but a new wave of dollar buying. At the same time, further dollar strength requires new catalysts, which I do not yet see. Therefore, from current levels, a new impulsive upward, non?corrective wave could begin.

Wave analysis for GBP/USD

The wave structure for GBP/USD has taken on a fairly clear shape, though it could become more complex. On the charts, we see a clear corrective A?B?C structure, which after the Fed meeting could transform into A?B?C?D?E. If that assumption is correct, the pound sterling will continue to decline with targets below the 1.31 area that marks the low of wave C. The news flow now needs to support the dollar for the proposed wave E to form.

The main principles of my analysis:

1. Wave structures should be simple and clear. Complicated structures are hard to trade and often change.
2. If you are not confident about what is happening in the market, it's better not to enter it.
3. There is no and can never be 100% certainty about the direction of movement. Don't forget protective Stop?Loss orders.
4. Wave analysis can be complemented by other types of analysis and trading strategies.