Last week the EURUSD currency pair printed a bullish engulfing candlestick: Forex Trading Forecast Profit
the best opportunities likely to be short-term trades either long of USD/CAD if sentiment on the US Dollar is bullish, or long of GBP/USD if sentiment on the US Dollar turned bearish again.
The news is currently dominated by two issues – speculation as to the extent of a forthcoming “dovish pivot” by the Federal Reserve and possibly other major central banks, and measures taken by China to stimulate its economy. suggesting that inflation has finally begun to make a significant fall. This was boosted by the release last week of the minutes of the most recent FOMC meeting which showed that members are broadly expecting rates to peak in 2023 at approximately 5%, with perhaps another 1% or 1.25% of rate hikes left in this cycle. This speculation has helped bring the US Dollar again after it made multi-decade highs just a few weeks ago.
when the begin trading this week, and it may boost currencies strongly related by trade such as the Australian Dollar also.
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