Bullish bias in both EUR/USD and GBP/USD faded after Federal Reserve Chair Jerome Powell said the Fed is ready to raise interest rates by 50bps at its next FOMC meeting if needed. Powell was more hawkish than at the Fed’s policy meeting last week, indicating that the Fed favors a more aggressive pace of tightening. The U.S. dollar surged against other peers in a first response to the comment.
The EUR/USD dropped below 1.10, which is why we scrapped a potential bullish breakout idea above 1.1160. A lower resistance is now seen at 1.1090.
GBP/USD: Below 1.3130 we may see a slide towards a test of 1.3080. Resistance remains present at 1.3210.
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EUR/USD
Long @ 1.1040
Short @ 1.0960
GBP/USD
Long @ 1.3175
Short @ 1.3110
DAX® (GER30)
Long @ 14360 Trade hit profit target
Short @ 14290
ETH/USD
Long @ 3010
Short @ 2890
Monthly results 2022:
February 2022: +531 pips
January 2022: +766 pips
Results 2021:
December 2021: +61 pips
November 2021: +452 pips
October 2021: +165 pips
September 2021: +578 pips
August 2021: +135 pips
July 2021: +34 pips
June 2021: +264 pips
May 2021: +528 pips
April 2021: +278 pips
March 2021: +45 pips
February 2021: +42 pips
January 2021: +472 pips
Results 2020:
December 2020: +318 pips
November 2020: +75 pips
October 2020: +432 pips
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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