The FOMC minutes didn’t deliver much of a surprise, especially not for the hawks. A March liftoff is on the table but this is nothing the market had not already anticipated. The U.S. dollar further weakened following the minutes.
EUR/USD: As long as the pair remains above 1.13, we expect further gains towards 1.1450. Below 1.1270, we pencil in a lower target at 1.1170.
GBP/USD: Holding above 1.35 suggests further gains towards 1.3650. Bears on the other side will wait for a break below 1.3480 and further 1.34.
Our trading ideas for 17/2/22:
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Long @ 1.1375
Short @ 1.1315
Long @ 1.3610
Short @ 1.3540
Long @ 15370 Trade has hit our profit target
Short @ 15320
Long @ 3120
Short @ 3080
Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.
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