Powell Testimony And Daily Signals 22/6/22

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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EUR/USD

Long @ 1.0530

Short @ 1.0485

GBP/USD

Long @ 1.2260

Short @ 1.2210 Trade has hit profit target

DAX® (GER30)

Long @ 13110

Short @ 13060

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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