EUR/USD plummets due to the Fed

Note: This section contains information in English only.
Source: Dukascopy Bank SA


At 17:00 GMT on Thursday, the head of the US Federal Reserve Jerome Powell started a speech. During the speech he revealed that the current US monetary stimulus would remain intact. However, as the markets appeared to expect additional stimulus, the value of the US Dollar surged.

It resulted in two large red hourly candles, which passed all support levels. By the middle of Friday's trading, the decline had reached below the 1.1920 mark, as the rate lost 1.06% or 128 pips.

In regards to the future, the rate could look for support in the 1.1900 level and trade sideways above it. However, if this level gets passed, the pivot point at 1.1830 could be targeted.
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Fri, 05 Mar 2021 09:13:27 GMT

NZD/USD two scenarios likely

During Thursday's trading session, the New Zealand Dollar declined by 96 pips or 1.32% against the US Dollar. The currency pair tested the weekly S1 at 0.7147 on Friday morning.

Fri, 05 Mar 2021 08:47:40 GMT

USD/CAD waiting for US data release

During the first half of yesterday's trading session, the US Dollar declined by 91 pips or 0.72% against the Canadian Dollar. However, the currency pair regained the lost points by the end of the day.

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