U.S. Dollar To Rebound On Fed?
It’s Federal Reserve decision day today and for the fifth consecutive meeting the central bank is seen holding interest rates unchanged at its current 5.25 to 5.50 percent range. Nonetheless, today’s decision could be of interest for traders as the focus will be on the Fed’s forward guidance. If Fed policy makers signal a greater inclination to patience and show less willingness to deliver multiple rate cuts, the U.S. dollar could rise.
Furthermore, the Fed releases updated macro projections, including the dot-plot at 18:00 GMT, followed by Fed Chair Jerome Powell’s press conferences 30 minutes later.
Daily Forex and DAX Signals:
If you are keen to know where we put Take-Profit and Stop-Loss, if we trade on a specific day or not and how we manage open positions, subscribe to our signals.
Our trading ideas for today 20/3/24:
EUR/USD
Long @ 1.0890
Short @ 1.0825
GBP/USD
Long @ 1.2760
Short @ 1.2690
DAX® (GER40)
Long @ 18030
Short @ 17960
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.
- Subscribe to our daily signal service
We wish you good trades!
Any and all liability of the author is excluded.
Copyright © All Rights Reserved 2024 MaiMarFX.
