Products You May Like
It is not time to start talking about tapering
The EURUSD spiked higher as that Fed’s Powell said “It it is not time to start talking about tapering”. The EURUSD is now trading above the high from Monday at 1.21164. The high price traded to 1.2125. Stay above the Monday high keeps the Bulls forward in control. The next targets come in a 1.2149, 1.2169 and 1.21889.
GBPUSD: The dollar is also trading lower versus the pound. It has broken out of its 71 PIP trading range seen this week above 1.39286. The high price has just reach 1.39439. The next target comes in at 1.3950. Stay above the 1.39241 to 1.39286 level keeps the buyers more control.
USDJPY: The USDJPY is trading down to test the swing area between 108.543 and 108.619. The pair has stalled within that level so far. A break below could see more liquidation with the price heading down toward the 108.30 area.
USDCHF has moved down the to retest its 200 day moving average at 0.90884. A move below that level would have traders targeting the 100 day moving average at 0.90583.
In the US stock market, the major indices are trading higher, but still off the highest levels of the day.
- S&P index up 9.53 points or 0.23% of 4196.25
- NASDAQ index up 23.8 points or 0.18% at 14114
- Dow still down 72 points or -0.21% at 33913.90
US yields have moved off their high levels:
- 2 year 0.166%, -1.3 basis points
- 10 year 1.627%, +0.5 basis points
- 30 year 2.305%, +1.0 basis points