See also
Dollar collapsed despite the Federal Reserve's decision to keep interest rates unchanged amid a recent inflationary surge in the region. Fed Chairman Jerome Powell noted the acceleration in the pace of consumer price growth but advised against dramatizing it, classifying it as just seasonal. He said inflation fluctuates from year to year in February, and there exists no rule that it must increase. These words could be interpreted as a statement of readiness to cut interest rates, even with the current level of inflation. The market reacted accordingly, pricing in the expectation of a rate cut as soon as June.
Dollar may continue to fall today, partly due to preliminary assessments of business activity indices in Europe and the US. But the main event will undoubtedly be the Bank of England's meeting. Although the refinancing rate will almost certainly remain unchanged, the distribution of votes on the issue of interest rates will be crucial. If it turns out roughly the same as a month and a half ago. the level of interest rates in the UK and the US will at least equalize. It may even be higher in the UK for a while, which will boost pound's growth, followed by euro.
EUR/USD rose by nearly 100 pips during speculative growth, leading to an almost complete recovery in price from the recent decline. Considering the scale of price changes in the market, signs of overbought conditions could be seen, which could provoke a technical pullback. However, speculators may overlook this situation, allowing euro to rise towards the local high.
Similarly, GBP/USD rose in price, reaching the level of 1.2800. Lower timeframes show the pair's overbought condition, which could lead to a rebound. Speculators will overlook this situation if the price stays above 1.2800 on the daily timeframe.
You have already liked this post today
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Analysis of Thursday's Trades 1H Chart of GBP/USD On Thursday, the GBP/USD pair exhibited a relatively strong decline, triggered by weak business activity indices in the UK. However, this explanation
Analysis of Thursday's Trades 1H Chart of EUR/USD The EUR/USD currency pair showed no significant movements on Thursday and remained in low volatility, despite it being the most eventful
On Thursday, the GBP/USD currency pair traded lower, which can be considered a local correction. This movement will cease to be a correction only if the price consolidates below
On Thursday, the EUR/USD currency pair exhibited astonishingly low volatility and a complete unwillingness to move in any clear direction. Many traders were expecting active movements during
Analysis of Wednesday's Trades 1H Chart of GBP/USD The GBP/USD pair also continued its upward movement on Wednesday. As expected, this happened without the need for any news or reports
Analysis of Wednesday's Trades 1H Chart of EUR/USD On Wednesday, the EUR/USD currency pair continued its upward movement. Essentially, we are seeing the same pattern every day this week —
Unlike the EUR/USD pair, the GBP/USD currency pair steadily continued its upward movement on Wednesday. There were no significant macroeconomic events in either the U.S. or the UK during
The EUR/USD currency pair showed no notable movements on Wednesday, and the market displayed no interest in Donald Trump's trade deals. As we've said repeatedly, what's the point of trade
Analysis of Tuesday's Trades 1H Chart of GBP/USD The GBP/USD pair also continued its upward movement on Tuesday. As expected, this did not require any news or reports. One could
Analysis of Tuesday's Trades 1H Chart of EUR/USD On Tuesday, the EUR/USD currency pair continued its upward movement, as expected. Recall that the day before, the price consolidated above
Training video
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.