Daily analytical report (21/03/19)

  • We weren’t expecting much hawkishness from the FOMC yesterday, but the level of the dovishness really shook markets. According to the Fed, there won’t be any rate hikes this year (not so long ago we were expecting two) and only one in 2020. For markets, this was a clear sign to short the US dollar, which is giving us interesting trading signals on many pairs.
  • Thanks to this, EURUSD managed to break both the upper line of the triangle pattern and the long-term downwards trend line. That is definitely a signal to go long. Remember that this all started with a false breakout pattern at the beginning of March.
  • The movement on the USDJPY pair was one of the strongest. The rate managed to escape downwards out of the triangle and the flag. Everything happened with very high momentum. The sell signal here is very strong and it is hard to imagine the pair going the other way.
  • AUDUSD also moved the way that we predicted yesterday. The case here is similar to the EURUSD pair in that it all started with a false breakout pattern. The bullish setup looks legitimate, and after a small typical correction, we should see AUD continue to rise.

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