EUR/USD Bulls Remain In Control

www.investing.com/analysis/eurusd-bulls-remain-in-control-200391898

By MyFXspot research | Feb 24, 2019 06:42AM ET

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Trade Ideas

EUR/USD: long at 1.1320, take profit at 1.1470, stop-loss 1.1255
USD/CAD: short at 1.3350, take profit at 1.3010, stop-loss 1.3485
XAG/USD: long at 15.50, take profit at 16.50, stop-loss 15.00

Market Overview

The Federal Reserve said that in light of a slowing global economy and last year's financial market turmoil, the central bank intends to remain "patient" in determining when to make future changes in its benchmark interest rate. The Fed's semi-annual report to Congress on monetary policy stood in contrast to its last report in July when it signaled that it was on track to keep raising rates at a gradual pace over the next two years. The new report cites a range of risks to the economy that have developed over the last six months, as well as continued muted inflation as reasons to slow further hikes.

Various Fed officials including Fed Chairman Jerome Powell have emphasized that change in speeches since the January 29-30 meeting. Powell will testify on the Fed's Monetary Policy report before Senate and House committees next Tuesday and Wednesday.

EUR/USD bulls remain in control despite the failure to register a daily close above the 1.1362 Fibo, a 38.2% retrace of the 1.1570 to 1.1234 (January to February) drop. Our EUR/USD long remains and it's progressing slightly. We are encouraged that the pair is consolidating short term gains. The consolidation should resolve with a break higher. Rising daily RSI and the long lower wick on February's candle are also encouraging.

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Central Banks

Interest Rates

Next Meeting

FED

1.75%

Jul 27, 2022

ECB

0.00%

Jul 21, 2022

BOE

1.25%

Aug 04, 2022

SNB

-0.25%

Sep 22, 2022

RBA

0.85%

Jul 05, 2022

BOC

1.50%

Jul 13, 2022

RBNZ

2.00%

Jul 13, 2022

BOJ

-0.10%

Jul 21, 2022

CBR

9.50%

Jul 22, 2022

RBI

4.90%

Aug 04, 2022

PBOC

3.70%

BCB

13.25%

Aug 03, 2022

US 30	30,959.0	-138.3	-0.44%
US 500	3,809.8	-15.5	-0.41%
Dow Jones	31,097.26	+321.83	+1.05%
S&P 500	3,825.33	+39.95	+1.06%
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S&P 500 VIX	26.70	-2.01	-7.00%
Dollar Index	104.865	-0.044	-0.04%

Crude Oil WTI	108.23	-0.20	-0.18%
Brent Oil	111.32	-0.16	-0.14%
Natural Gas	5.709	+0.089	+1.58%
Gold	1,809.40	+7.90	+0.44%
Silver	19.800	+0.133	+0.68%
Copper	3.6147	+0.0057	+0.16%
US Soybeans	1,510.50	-48.50	-3.11%

SPDR S&P 500	381.24	+3.99	+1.06%
iShares Russell 2000	171.41	+2.05	+1.21%
Invesco QQQ Trust	282.13	+1.85	+0.66%
Direxion Daily Junior Gold Miners Bull 2X Shares	35.44	+1.98	+5.92%
iShares Silver	18.31	-0.33	-1.77%
ProShares Ultra VIX Short-Term Futures	13.99	-0.54	-3.72%
ProShares UltraPro QQQ	24.39	+0.39	+1.62%

Apple	138.93	+2.21	+1.62%
Alphabet A	2,174.75	-4.51	-0.21%
Tesla	681.79	+8.37	+1.24%
Amazon.com	109.56	+3.35	+3.15%
Netflix	179.95	+5.08	+2.90%
Meta Platforms	160.03	-1.22	-0.76%
Bank of America	31.56	+0.43	+1.38%

EUR/USD Bulls Remain In Control

Trade Ideas

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