No Big Movements
Investors shrugged off the Federal Reserve’s dovish message and Treasury yields surged amid concern the Federal Reserve risks letting inflation accelerate. The U.S. dollar strengthened in response to rising yields.
Both of our currency pairs EUR/USD and GBP/USD trended lower Thursday but bearish momentum was not enough to trigger any significant downward move.
The current low-volatile market environment could persist given that there are no major risk events scheduled in the coming days, providing very little chances of profitable opportunities.
We will keep an eye on the technical picture in order to evaluate profitable chances.
EUR/USD: Watch out for an upside break above 1.20 and 1.2060 or on the bottom side, for a break below 1.1890. A lower target is seen at 1.1810.
GBP/USD: There is nothing new to report while cable remains trading between 1.40 and 1.3780.
DAX: The index becomes vulnerable to a correction but as long as 14600-14550 holds, there is a chance of a bullish extension until 14880.
Have a good weekend.
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