Global macro overview for 28/02/2018
February 28, 2018 2:23 pmVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for April 19-22, 2024: sell below $2,395 (+2/8 Murray – overbought) April 19, 2024
- USD/JPY: Simple Trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- EUR/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: trading plan for the US session on April 19th (analysis of morning deals). The pound is trying to regain its advantage April 19, 2024
- EUR/USD: trading plan for the US session on April 19th (analysis of morning deals). The euro compensated for the losses April 19, 2024
- Storm in a teacup: EUR/USD analysis April 19, 2024
- Video market update for April 19, 2024 April 19, 2024
- Eurozone PMIs eyed as euro’s focus turns to rate cuts beyond June – Preview April 19, 2024
- Technical Analysis – NZDUSD falls to fresh 5-month low April 19, 2024
- EUR/USD. April 19th. Bostic, Fed: the rate cut will happen at the end of the year April 19, 2024
- Forecast for GBP/USD pair on April 19, 2024 April 19, 2024
- Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Market Comment – Safe havens jump as Israel retaliates against Iran April 19, 2024
- Technical Analysis – USDCAD puts rally on hold near 1.3800 caution zone April 19, 2024
- USD/JPY: trading tips for beginners for European session on April 19 April 19, 2024
- GBP/USD: trading tips for beginners for European session on April 19 April 19, 2024
- EUR/USD: trading tips for beginners for European session on April 19 April 19, 2024
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
Jerome Powell did not say anything during his inaugural speech before the Congress that would undermine the growing confidence among the global investors that his term would be marked by a more decisive normalization of monetary policy. The base scenario for the market is not the expectation of a maximum of three but a minimum of three interest rates this year. With the current discount assuming the probability of a hike in March at the level of 96% and the increase in the cost of money in the year by around 80 bps, the key to the stronger Dollar should be the rhetoric accompanying the tightening and the perception of the target level for the rates. It is also important to believe in the strength of the economy and its resistance to the correction on Wall Street, which guarantees that the Fed will not deviate from the chosen course.
Let’s now take a look at the US Dollar Index technical picture at the H4 time frame. The market has finally managed to broke out above the black trend line around the level of 90.11 after the Powell speech in US Congress. Currently, the bulls are trying to test the technical resistance at the level of 90.59 and possibly break higher towards the next resistance at the level of 90.98. The momentum is still above its fifty level and remains strong, pointing to the north. he nearest support for the price is seen at the level of 90.20.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: