Attached Image (click to enlarge)
Alien's Extraterrestrial Visual Systems
- #22,194
- Feb 24, 2021 5:05am Feb 24, 2021 5:05am
- Joined Jul 2013 | Status: Trader | 2,603 Posts
"The economic recovery remains uneven and far from complete, and the path ahead is highly uncertain," Powell said in written testimony to the Senate Banking Committee on Tuesday, contradicting widespread optimism that the economy will grow rapidly this year, leading to early Fed tightening. So far, however, the dollar has remained resilient, keeping EUR/USD sidelined near 1.2150 and well within the range (high and low) of Tuesday's indecisive Doji candle. Lagarde said early this week that board members are "closely monitoring" rising sovereign bond yields, stoking fears of central bank intervention. Lagarde's comments, coupled with Germany's slow vaccine delivery and continued stock market weakness, could continue to hamper EUR's progress. The pair may find bids if the German data due at 07:00 GMT carries a big upward revision to the country's fourth-quarter gross domestic product (GDP) reading.
The GBP/USD pair prolonged its recent bullish trajectory and surged to fresh 34-month tops, beyond the 1.4200 mark during the Asian session on Wednesday. The momentum marked the fifth consecutive day of a positive move and was supported by a combination of factors. The sterling remained well supported by the impressive pace of COVID-19 vaccinations in Britain, the UK government's plan to ease current lockdown measures and Tuesday's upbeat UK employment details. UK Prime Minister Boris Johnson unveiled a new four-step plan to end restrictions by 21 June and lifted hopes for a swift UK economic recovery. The pair touched an intraday high level of 1.4243, albeit overstretched conditions on short-term charts prompted some profit-taking at higher levels.
In the absence of any major market-moving economic releases, Powell's second day of testimony to the Senate Banking Committee will also be looked upon for some meaningful trading opportunities".
The GBP/USD pair prolonged its recent bullish trajectory and surged to fresh 34-month tops, beyond the 1.4200 mark during the Asian session on Wednesday. The momentum marked the fifth consecutive day of a positive move and was supported by a combination of factors. The sterling remained well supported by the impressive pace of COVID-19 vaccinations in Britain, the UK government's plan to ease current lockdown measures and Tuesday's upbeat UK employment details. UK Prime Minister Boris Johnson unveiled a new four-step plan to end restrictions by 21 June and lifted hopes for a swift UK economic recovery. The pair touched an intraday high level of 1.4243, albeit overstretched conditions on short-term charts prompted some profit-taking at higher levels.
In the absence of any major market-moving economic releases, Powell's second day of testimony to the Senate Banking Committee will also be looked upon for some meaningful trading opportunities".
Per aspera ad astra 
