empty
 
 
sp
Soporte
Apertura instantánea de la cuenta
Plataforma comercial
Depositar/Retirar

21.03.202409:02 Forex Analysis & Reviews: Trading plan for EUR/USD and GBP/USD on March 21

Dollar collapsed despite the Federal Reserve's decision to keep interest rates unchanged amid a recent inflationary surge in the region. Fed Chairman Jerome Powell noted the acceleration in the pace of consumer price growth but advised against dramatizing it, classifying it as just seasonal. He said inflation fluctuates from year to year in February, and there exists no rule that it must increase. These words could be interpreted as a statement of readiness to cut interest rates, even with the current level of inflation. The market reacted accordingly, pricing in the expectation of a rate cut as soon as June.

Dollar may continue to fall today, partly due to preliminary assessments of business activity indices in Europe and the US. But the main event will undoubtedly be the Bank of England's meeting. Although the refinancing rate will almost certainly remain unchanged, the distribution of votes on the issue of interest rates will be crucial. If it turns out roughly the same as a month and a half ago. the level of interest rates in the UK and the US will at least equalize. It may even be higher in the UK for a while, which will boost pound's growth, followed by euro.

Exchange Rates 21.03.2024 analysis

EUR/USD rose by nearly 100 pips during speculative growth, leading to an almost complete recovery in price from the recent decline. Considering the scale of price changes in the market, signs of overbought conditions could be seen, which could provoke a technical pullback. However, speculators may overlook this situation, allowing euro to rise towards the local high.

Exchange Rates 21.03.2024 analysis

Similarly, GBP/USD rose in price, reaching the level of 1.2800. Lower timeframes show the pair's overbought condition, which could lead to a rebound. Speculators will overlook this situation if the price stays above 1.2800 on the daily timeframe.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Benefíciese de las recomendaciones de los analistas ahora mismo
Recargue su cuenta de operaciones
Abra una cuenta de operaciones

¡Los informes analíticos de InstaSpot lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaSpot, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.

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