According to Reuters, the deputy head of the Federal Reserve Bank R. Clarida said during a speech:It’s not yet time to wind down the support the Fed has provided to the economy;We’ll be watching wage, compensation, and productivity trends;We have not yet made significant progress on our labor market goals;The latest jobs report reaffirmed the Fed’s data-driven approach;We will evaluate the data coming in this year and give the markets advance notice of any decision to roll back QE;We will prudently accumulate more data before making a decision;The economy is recovering at an uneven pace;The Fed’s patience with inflation is not infinite; inflation expectations must remain contained.
Our Analysis:
Provided that the currency pair is traded above 0.7134, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.7161
- Take Profit 1: 0.7193
- Take Profit 2: 0.7209
Alternative scenario:
In case of breakdown of the level 0.7134, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.7134
- Take Profit 1: 0.7108
- Take Profit 2: 0.7093
EUR/USD Intraday: under pressure.
Pivot:
1.2100
Our preference:
Short positions below 1.2100 with targets at 1.2065 & 1.2050 in extension.
Alternative scenario:
Above 1.2100 look for further upside with 1.2115 & 1.2135 as targets.
Comment:
As long as the resistance at 1.2100 is not surpassed, the risk of the break below 1.2065 remains high.
GBP/USD Intraday: the downside prevails.
Pivot:
1.4095
Our preference:
Short positions below 1.4095 with targets at 1.4045 & 1.4015 in extension.
Alternative scenario:
Above 1.4095 look for further upside with 1.4125 & 1.4150 as targets.
Comment:
As long as the resistance at 1.4095 is not surpassed, the risk of the break below 1.4045 remains high.
AUD/USD Intraday: the downside prevails.
Pivot:
0.7755
Our preference:
Short positions below 0.7755 with targets at 0.7700 & 0.7670 in extension.
Alternative scenario:
Above 0.7755 look for further upside with 0.7790 & 0.7815 as targets.
Comment:
As long as 0.7755 is resistance, look for choppy price action with a bearish bias.
Gold Intraday: under pressure.
Pivot:
1826.00
Our preference:
Short positions below 1826.00 with targets at 1812.00 & 1799.00 in extension.
Alternative scenario:
Above 1826.00 look for further upside with 1835.00 & 1845.00 as targets.
Comment:
As long as the resistance at 1826.00 is not surpassed, the risk of the break below 1812.00 remains high.
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