On October 28 European Central Bank held a press conference. Inflation has hit Europe and now the time has come for more profound steps in the fight with the post-pandemic economy. What should we know to trade these events?
USD/JPY: a SELL opportunity
2021-02-17 • Updated
USD/JPY rose to the resistance of the 50-week MA at 106.00. The pair is not at the resistance line since the end of December. This is the third time the price comes to this level. As a result, a correction to the downside is likely. The decline below support at 105.85 will open the way down to 105.60 (200-day MA). The further fall will make the pair vulnerable for a fall to the lower border of the short-term uptrend at 105.00.
The market awaits the release of the US retail sales and the FOMC meeting minutes. IF the former is worse than expected, USD/JPY will get hurt.
Trade idea for USD/JPY
SELL 105.80; TP 105.60; SL 105.90
SELL 105.40; TP 105.00; SL 105.60
The Turkish lira has been pressed by Turkey’s central bank (CBRT). Analysts believe USD/TRY will reach 10.00 by the year's end.
The riskier New Zealand dollar skyrocketed and pushed the NZD/USD pair up to the resistance level of 0.7150. How to trade it now?
USD/TRY belongs to the exotic group of Forex currency pairs, that’s why traders don’t trade it regularly. However, these days this pair is in the focus of all the trading community!
Some cryptocurrencies, like Bitcoin or Ethereum, are useful and bring real value to the world.
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