USD softened on Tuesday

USD softened on Tuesday

Latest news

  • The US is going to unveil the much-awaited $1.9 trillion stimulus package. US Treasury Secretary Janet Yellen claimed that Biden’s stimulus should help to speed up a “very strong” US economic recovery, and also emphasized that “there are tools” to deal with inflation.
  • As a result, the market sentiment slightly improved, but investors remain cautious as they think a huge stimulus may drive the economy to overheat and inflation to get out of control.  
  • Nasdaq retreated after Monday’s deep slump. S&P 500 climbed as well but stayed below the resistance of 3,850. 
  • US Treasury yields rose on expectations for higher inflation and faster economic rebound. The US dollar index reached November’s highs.
  • Oil dropped due to the strong greenback and an attack on the world’s largest crude terminal in Saudi Arabia.

Technical analysis

EUR/USD has bounced off the 200-day moving average of 1.1815. If the pair manages to rise above the resistance of 1.1950, the way up to the 100-day MA of 1.2030 will be clear. Support levels are 1.1815 and 1.1775. 

EURUSDDaily.png

GBP/USD is heading upwards as well. If it jumps above the high of March 5 at 1.3900, it may rise to the next resistance of 1.3950. Support levels are 1.3800 and the 50-day MA of 1.3750. 

GBPUSDDaily.png

USD/JPY’s rally is unstoppable! It has broken the 200-day MA of 109.00. Therefore, the way up to the high of May 2020 at 109.50 is clear. However, the RSI hit the 70.00 level, indicating the pair is overbought. Besides, the price has surpassed the upper line of Bollinger Bands a few days ago. Therefore, we may see a pullback soon. Support levels are 108.50 and 108.00.

USDJPYWeekly.png

Gold has been dipping in both the long and short terms. Gold may rise to the resistance of $1,700, which it can struggle to break. But if crosses it, the way up to the high of March 2 at $1,740 will be open. Support levels are $1,675 and $1,650. 

XAUUSDDaily.png

              

TRADE NOW

Similar

Inflation Risks Return To The Markets
Inflation Risks Return To The Markets

Lagarde says difficult times have come, and the ECB raised the rate not to cause a recession but to stabilize prices. Read the report to learn the freshest news of the day!

ECB Key Rate is in Focus
ECB Key Rate is in Focus

ECB is ready to take the decision about the key rate. What to expect from officials? Oil prices are high, and economy indicators demonstrate the slowing down in the strongest European economies.

What Will the Fed Decide?
What Will the Fed Decide?

The Fed is going to take a decision about the interest rate. This is the crucial news for the following week. What's going on in the markets and what to expect?

Latest news

Fed’s Rate Pause and UK Inflation Slows
Fed’s Rate Pause and UK Inflation Slows

Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera