Overnight, Fed Governor Lael Brainard added another touch to the positive picture painted by other Fed policymakers on Tuesday, who hinted that a March rate hike may be on the way. In her speech, Brainard said that a rate hike will likely be appropriate soon given improved global conditions and continued growth. She noted that “constraints” of the past two years, caused by problems from Europe to China are easing. With regards to the domestic economy, she noted that the Fed’s employment and infl…
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USD GAIN
Overnight, the US dollar outperformed most of its major counterparts following a barrage of hawkish remarks from FOMC officials, as well as comments on infrastructure spending by President Trump before Congress. The dollar rally was triggered by New York Fed President Dudley, who indicated that the case for a rate hike has become “a lot more compelling”. Considering that Dudley usually maintains a neutral tone with regards to policy, these hawkish hints probably came as a surprise to many market…
GBPUSD
The GBPUSD pair broke 1.2864 level and closed the daily candlestick below it, which pushes the price out of the sideways range that appears on the above chart, opening the way to record new historical lows, as the price continues to move inside the bearish channel that organizes trading since the beginning of the current month.Therefore, the bearish trend will be suggested in the upcoming sessions supported by the negative pressure provided by the EMA50, and the next target is located at 1.2725,…
EURUSD
EUR/USD remains on the downside as the fall from 1.1713 continues. Deeper decline should be seen to 1.0807 support. As noted before, the corrective rise from 1.0461 could have completed at 1.1713 already. Break of 1.0807 support will confirm this case and would likely extend the larger down trend. Meanwhile, above 1.1332 minor resistance will turn focus back to 1.1713 resistance instead. In the bigger picture, overall price actions from 1.6039 long term top is viewed as a corrective pattern with…
USD Hold gain.
The dollar held gains against against the other major currencies on Thursday, after the release of mostly upbeat U.S. economic reports and as investors turned their attention Friday's highly-anticipated nonfarm payrolls data.A careful trade is require but technically on the Majors USD IS VERY strong except USDJPY.a week in Non farm payroll Data will bring about a high of usd, untill the FOMC meeting this month we are likely to see a ranging market.SO today,lets trade carefully.Good luck to all