Biden knocks EUR/USD down, Powell may send it over the edge

January 14, 2021 Off

EUR/USD has been retreating in response to reports of a $2 trillion stimulus package from Biden’s administration.  Fed Chair Powell’s comments on the bank’s bond-buying scheme are highly anticipated.  Thursday’s four-hour chart s pointing to further losses.  More government money is better for the dollar – at least when it comes to fiscal stimulus. Media…

By admin-445

GBP/USD: Fakeout at 1.37? Initial surge may prove short-lived despite good reasons to rise

January 13, 2021 Off

GBP/USD has been advancing amid bond-related dollar weakness and BOE hawkishness.  Concerns around coronavirus and Brexit may cause a downside correction. Tuesday’s four-hour chart is showing that cable is entering overbought conditions. First impressions can sometimes be deceiving – and GBP/US potential move above 1.37 may also prove a selling opportunity. Apart from entering oversold…

By admin-445