Federal Reserve Chair Jerome Powell is expected to reinforce the commitment to fight inflation when he appears before Congress today at 13:30 UTC. Any hawkish remarks will be bearish for the market.
EUR/USD: We will pay tabs on prices above 1.0670 or below 1.0470. Above 1.0670, a higher target is at 1.0750. Below 1.0470, the focus turns back to a bearish break of 1.0340 with a lower target seen at 1.02.
GBP/USD: Currently we are looking at a trading range between 1.2450 and 1.1950. The bias remains however bearish as long as the pair trades below 1.24.
DAX: Bearish bias below 13500 with a lower target at 12440. The sentiment will change in favor of the bulls if the 14000-hurdle is cleared to the upside.
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Long @ 1.0530
Short @ 1.0485
Long @ 1.2260
Short @ 1.2210 Trade has hit profit target
Long @ 13110
Short @ 13060
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