
The risk-on is back on the market as investors focus on the projections for a stronger-than-expected economic rebound and the Fed’s pledge to prolong support for the rest of the year.
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EUR/USD has been moving in an ascending channel since mid-summer. Since it has approached the lower trendline at 1.2030, we can expect the pair to bounce off rather than break out. If it manages to break above the resistance of 1.2100, the way up to the 50-day moving average of 1.2150 will be open.
GBP/USD has broken the psychological mark of 1.3900 and the heading to the high of February 16 at 1.3950. Support levels are at the 50-period MA of 1.3840 and the low of February 12 at 1.3780.
USD/JPY has been moving up but the 50-weekly moving average has stopped its rally. If it manages to break above the key psychological mark of 106.00 again, the way up to the next round number of 106.50 will be open. Support levels are at the 200-day MA of 105.60 and 105.00.
EUR/GBP has been trading in a descending channel since December. It has just broken the supprt of 0.8680. Now it's edging lower to 0.8650, whcih it's unlikely to cross on the first try. Resistance levels are 0.8700 and 0.8725.
The risk-on is back on the market as investors focus on the projections for a stronger-than-expected economic rebound and the Fed’s pledge to prolong support for the rest of the year.
Stock indices S&P 500 and Nasdaq are falling for seven days in a row. The New Zealand dollar skyrocketed to almost two-years highs. Fed’s Powell held a meeting yesterday and said that the central bank wouldn’t tight its easing policy anytime soon.
On Thursday, February 25, at 15:30, the initial jobless claims will be published in the US.
The giant chip maker exceeded analysts’ expectations. Even with a global GPU shortage!
OPEC will hold a meeting on March 4, where it should announce its decision on further oil output.
The risk-on is back on the market as investors focus on the projections for a stronger-than-expected economic rebound and the Fed’s pledge to prolong support for the rest of the year.
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