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 trade idea
2021-04-08 • Updated
The FOMC meeting minutes released on Wednesday showed that Fed officials are committed to supporting the economy until its recovery is more secure. Today the Federal Reserve’s Chair Jerome Powell may confirm in his speech that the US central bank aims to keep interest rates lower for longer.
What does it mean for traders?
As we've established, the US dollar may find itself under additional pressure in the near term. What is the best way to trade on a weaker USD? Have a look at USD/JPY. The pair is facing the long-term resistance line at the current levels. In fact, it couldn’t rise above 111.00 and returned below 110.00. The further slide may take the price to the 200-week MA at 109.00. The Awesome Oscillator on the D1 shows potential for further decline.
Trade idea for USD/JPY
SELL at 109.40; TP 109.00; SL 109.55
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.
Latest news On September 29, Virgin Galactic announced that the Federal Aviation Administration has approved launches resume after an investigation about why its spaceship veered off course while descending during a July flight with founder Richard…