Risk appetite fell as expectations for further Fed rate hikes eased. Market players are now betting on a pause in interest rate increases, especially after what happened last week with SVB, which forced the US Treasury to intervene.
As there are no important statistics scheduled to be released this afternoon, traders should closely monitor the Fed's actions and the bond market situation, as both will affect the market's sentiment today. The chances of seeing a price increase in euro and pound are higher.
EUR/USD
For long positions:
Buy euro when the quote reaches 1.0687 (green line on the chart) and take profit at the price of 1.0724.
Euro can also be bought at 1.0664, but the MACD line should be in the oversold area as only by that will the market reverse to 1.0687 and 1.0724.
For short positions:
Sell euro when the quote reaches 1.0664 (red line on the chart) and take profit at the price of 1.0639.
Euro can also be sold at 1.0687, but the MACD line should be in the overbought area as only by that will the market reverse to 1.0664 and 1.0639.
GBP/USD
For long positions:
Buy pound when the quote reaches 1.2085 (green line on the chart) and take profit at the price of 1.2135 (thicker green line on the chart).
Pound can also be bought at 1.2034, but the MACD line should be in the oversold area as only by that will the market reverse to 1.2085 and 1.2135.
For short positions:
Sell pound when the quote reaches 1.2034 (red line on the chart) and take profit at the price of 1.1984.
Pound can also be sold at 1.2085, but the MACD line should be in the overbought area as only by that will the market reverse to 1.2034 and 1.1984.
