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  • Bostic sees first hike in 'late 2022' and doesn't want to hike until Taper is complete. If the Fed follows the three quarter spacing timeline it would suggest roughly: Dec 2022 hike < March 2022 finish taper < any month now start taper https://t.co/j25E9vAUc1
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  • EUR/USD trades to a fresh weekly high (1.1955) as Fed Chairman Jerome Powell strikes a dovish forward guidance in front of US lawmakers. Get your $EURUSD market update from @DavidJSong here:https://t.co/pPmPVw0ZZH https://t.co/VKZRCOsa6Z
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 1.32% Oil - US Crude: 1.02% Gold: 0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/rhpTpTedws
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.47% 🇦🇺AUD: 0.42% 🇬🇧GBP: 0.20% 🇨🇭CHF: 0.10% 🇪🇺EUR: 0.05% 🇯🇵JPY: -0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/bxpFXTKKxE
EUR/USD

EUR/USD

Jamie Saettele, CMT, Sr. Technical Strategist

EUR/USD Trades into Monday Range and Bounces

Daily

eliottWaves_eur-usd_body_eurusd.png, EUR/USD

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader?

Why trade EURUSD?

FOREXAnalysis: Keep high volume areas of 1.3242 and 1.3294 (post FOMC close) in mind but 1.3205 is viewed as a tradeable high. The USDCHF drop below its 7/11 low creates divergence with the EURUSD, which is in place as long as price is EURUSD is below the 7/11 high. It’s also possible that a flat correction is complete from the 7/11 low.

FOREX Trading Strategy: Was triggered short on Wednesday at 1.3174. Stop is 1.3210. Target is 1.2930. If stopped out, then will be looking for a top near 1.3270/90.

LEVELS: 1.2921 1.2992 1.3062 1.3148 1.31741.3205

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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