empty
 
 
01.02.2024 09:12 AM
Trading plan for EUR/USD and GBP/USD on February 1

The market's situation remained the same. Although dollar fell in price ahead of the announcement of the outcome of the Fed meeting, which reflected traders' confidence in the inevitability of a monetary policy easing, it returned to its previous positions during Fed Chairman Jerome Powell's press conference due to the statement that even though rate hikes will not continue, a cut in rates will still not happen soon. Powell also mentioned that interest rates reached a peak, but inflation remained at an extremely high level.

In the eurozone, inflation indicators will come out today, and forecasts say that it will show a slowdown in the growth rate of consumer prices from 2.9% to 2.8%. If this happens, the European Central Bank will be the first to lower interest rates, leading to euro's decline.

As for the UK, the Bank of England will likely keep its interest rates unchanged. However, it may give a clearer signal about the imminent easing of its monetary policy, which will be a reason for pound to weaken.

This image is no longer relevant

EUR/USD continued to trade downwards. The level of 1.0800 will act as a variable support, in which a stabilization of the price below this level will provoke an increase in the volume of short positions. Otherwise, the pair will fluctuate above the level.

This image is no longer relevant

GBP/USD continues to move within the range of 1.2600/1.2800. At the moment, it lies around 1.2600/1.2700, indicating the possibility of another flat market.

Summary
Urgency
Analytic
Alexandr Davidov
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $6000 más!
    ¡En Diciembre, sorteamos $6000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback