trusted trading apps malaysia–HXFXglobal reminds you:
Forecast Of US Retail Sales Weakens, EURUSD Bow Before Bounces
Powell Gives No Clear Signal On Fed’s Eager To Tighten. Striking USD, Boosting EURUSD
【Strategy】
Aggressors are suggest to consider marginal Long after pullback to near 1.14501, Target 1.14859, Stop-Loss by 1.14320. Non-Aggressors are advice to await for better entry.
【NEWS】
During the morning session today, EURUSD rose in bumps for the scope of around 0.20%. USD was under pressure after FED Chairman J.Powell did not explicitly signal in a congressional hearing earlier this week that the central bank was eager to speed up its plan to tighten monetary policy, even when the Beige Book has shown the economic growth in parts of the United States has been dragged, hitting USD significantly. In addition, tonight’s December US Retail Sales data and January University of Michigan Consumer Confidence Index, the market is expected the result would be pessimistic especially the outcome may highly likely to be lower than the previous value. The USD was weak and weakening in early trading today. On the other hand, the Euro is stronger than the USD in terms of purchasing power, as the CPI in the Eurozone has recorded an annual rate of 5% in December, far below the 7% annual rate of the US CPI. Therefore, we would forecast EURUSD would prone to rise than fall as referenced to the current available new.
【Technical】
In 4Hrs range, (5,10,20)Tri-MAs uptrend and sequenced for Bull trend. Candlestick rebounded to above Tri-MAs with white candle. MACD reveals the contraction on positive column. KD flattening. To conclude, EURUSD do holds the potential to face the correction after the soar.
(Information above is purely personal opinion, doesn’t represent platform’s standpoint. This opinion can only be use as reference)
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