Source: PaxForex Premium Analytics Portal, Technical Insight

Fed Chairman Jerome Powell announced a major policy shift on Thursday concerning "targeting average inflation. It means that the central bank will be more inclined to allow inflation to exceed the standard target of 2 percent before raising interest rates. In addition to changing inflation, the Fed has changed its approach to employment to focus on people with low incomes.

EUR/USD, 30 min

Pivot: 1.1874

Analysis:

Provided that the currency pair is traded above 1.1835, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 1.1874
• Take Profit 1: 1.1900
• Take Profit 2: 1.1920

Alternative scenario: 

In case of breakdown of the level 1.1835, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 1.1835
• Take Profit 1: 1.1810
• Take Profit 2: 1.1790

Comment:

RSI is bullish and indicates an uptrend within a day.

Key levels:

EUR/USD, D1

Pivot: 1.1855

Analysis:

While the price is above 1.1640, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.1855
• Take Profit 1: 1.2000
• Take Profit 2: 1.2150

Alternative scenario:

If the level 1.1640 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 1.1640
• Take Profit 1: 1.1490
• Take Profit 2: 1.1380

Comment:

RSI shows the continuation of an uptrend in a medium term.

Key levels:

We also advise you to pay attention to the following currency pairs for intraday trading:

USD/CAD – sell below 1.3140 with 1.3080 and 1.3060 targets as Take Profit. Alternative scenario - if the level 1.3140 is broken-out, buy with the TP 1.3165 and 1.3190.
GBP/USD - long positions above 1.3190 with 1.3285 and 1.3320 targets as Take Profit. Alternative scenario - if the level of 1.3190 is broken-down, sell with the targets 1.3160 and 1.3130 as Take Profit.
AUD/USD – buy above 0.7250 with 0.7310 and 0.7340 as Take Profit targets. Alternative scenario - if the level of 0.7250 is broken-down you should consider selling with the targets 0.7230 and 0.7210 as Take Profit.