Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
FED Disappointed Markets
2020-09-17 • Updated
Midday Market View
Europe’s auto stocks were on the skids again on Thursday after fresh data showed that the recovery in sales had gone into reverse in August. U.S. stocks are set to open sharply lower Thursday, with investors disappointed that the Federal Reserve decided against adding more stimulus to advance its goal of spurring inflation. Congress continues to struggle to reach a deal on a new coronavirus aid bill although President Donald Trump has injected some life into talks and thus some investors had hoped the Fed would carry out more of the heavy lifting by injecting more monetary stimulus. Oil prices fell Thursday, rebalancing after recent strong gains as producers in the Gulf of Mexico took steps to resume output in the wake of Hurricane Sally.
Midday Key Point
- Eurozone August Final CPI comes at -0.2% vs -0.2% y/y than expected
- EUR/GBP finds support ahead of BoE
- EUR/USD finding support at daily trendline
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Bearish Scenario: Sell below 39600... Anticipated Bullish Scenario: Intraday buys above 39750... Bullish Scenario after Retracement: Intraday buys above 39150
Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
Latest news
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...