Source: PaxForex Premium Analytics Portal, Technical Insight
According to the President of the St. Louis Federal Reserve Bank J. Bullard in an interview with the Financial Times (FT):
The control of the yield curve is the last in the list of priorities of the Fed.
We're still in the middle of a crisis.
The threat of a financial crisis persists.
Without an effective policy, we could get a wave of bankruptcies, which could provoke a financial crisis.
It is necessary to make sure that the markets will not enter a state of complete freezing.
The Committee expects [rates] to remain low, markets expect us to do the same.
EUR/USD, 30 min
Pivot: 1.1285
Analysis:
Provided that the currency pair is traded above 1.1265, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1.1285
- Take Profit 1: 1.1300
- Take Profit 2: 1.1315
Alternative scenario:
In case of breakdown of the level 1.1265, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1.1265
- Take Profit 1: 1.1240
- Take Profit 2: 1.220
Comment:
RSI is bullish and indicates a further increase.
Key levels:
Resistance | Support |
1.1325 | 1.1265 |
1.1315 | 1.1240 |
1.1300 | 1.1220 |
EUR/USD, D1
Pivot: 1.1246
Analysis:
While the price is above 1.1100, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.1246
- Take Profit 1: 1.1375
- Take Profit 2: 1.1495
Alternative scenario:
If the level 1.1100 is broken-down, follow the recommendations below.
- Time frame: D1
- Recommendation: short position
- Entry point: 1.1100
- Take Profit 1: 1.1000
- Take Profit 2: 1.0870
Comment:
RSI shows the possibility of an uptrend with a medium-term period.
Key levels:
Resistance | Support |
1.1565 | 1.1100 |
1.1495 | 1.1000 |
1.1375 | 1.0870 |
We also advise you to pay attention to the following currency pairs for intra-day trading:
USD/CAD – sell below 1.3565 with 1.3515 and 1.3495 targets as Take Profit. Alternative scenario - if the level 1.3565 is broken-out, buy with the TP 1.3580 and 1.3595.
GBP/USD - long positions above 1.2465 with 1.2525 and 1.2550 targets as Take Profit. Alternative scenario - if the level of 1.2465 is broken-down, sell with the targets 1.2435 and 1.2420 as Take Profit.
AUD/USD – buy above 0.6945 with 0.6990 and 0.7010 as Take Profit targets. Alternative scenario - if the level of 0.6945 is broken-down, you should consider selling with the targets 0.6920 and 0.6900 as Take Profit.