As stated by the President of the Federal Reserve Bank of Cleveland L. Meister:
Satisfied with the current course of monetary policy, considers it appropriate to the situation;
The economy will pick up in the second half of the year if most people are immunized by Q3;
Does not fear that if inflation picks up, the Fed may be too late to start tightening policy;
Strong structural pressures keep inflation low;
Additional financial support will likely be needed to help the economy through the current difficult period.
Our Analysis:
Provided that the currency pair is traded above 104.95, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 105.03
- Take Profit 1: 105.30
- Take Profit 2: 105.45
Alternative scenario:
In case of breakdown of the level 104.95, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 104.95
- Take Profit 1: 104.80
- Take Profit 2: 104.65
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