Powell comments accelerates the already strengthening US Dollar
Powell's comments yesterday where he stated that should US jobs and economic data remain high, "we are prepared to increase the rate of hikes" and that "the ultimate peak is likely higher than expected" saw the US Dollar strengthen across the board.
For EUR/USD, the Euro came under pressure but this was already underway from over a month ago, when we saw the market fail at its previous long term uptrend - we already covered this in a previous video.
This leaves the market back under pressure targeting short term the 1.0340/25 2017 low and 200-day ma.
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For EUR/USD, the Euro came under pressure but this was already underway from over a month ago, when we saw the market fail at its previous long term uptrend - we already covered this in a previous video.
This leaves the market back under pressure targeting short term the 1.0340/25 2017 low and 200-day ma.
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
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