The fed and the rate of increase! Details from the Forex Academy

The new trading week began with serious events that will undoubtedly lead to changes in the foreign exchange market. It is worth knowing what lies ahead to be on the lookout and save your Deposit.

Hello, traders! It's another trading week, which means it's time to take stock of the past week and try to make a plan for a new one.

Last week, the FED (Federal reserve), as we predicted, raised the key rate by 25 basis points. The driver for the growth of the dollar was the speech of Janet Yellen, which was quite tough.

In 2017, the fed plans to raise the key rate three more times, which sounded quite bold and tough, especially against the backdrop of speeches by the heads of the ECB and the Bank of England, who were more inclined to a soft monetary policy.

The combination of these factors led to the fact that the dollar strengthened against almost all currencies.

The Christmas holidays are approaching, which means that the market will gradually lose liquidity and volatility.

On Monday, December 19, fed chair Janet Yellen delivered a speech at the University of Baltimore. Her speech was dedicated to the labor market and its prospects in the near future.

The key event of the week will be the publication of the results of the Bank of Japan meeting. In our opinion, at the upcoming meeting, the Japanese Forex regulator is unlikely to change the rhetoric regarding monetary policy, however, it is worth understanding that volatility will increase in any case, and it is better not to make trading decisions during this period.

Now let's move on to how we worked out the levels that we outlined last week.

Last week, we looked at the key levels in the GBP / USD pair. As a support, we indicated a TIU in the area of 1.2565. On Thursday, this support was broken, after which the price went to test this level again. RU3 was formed, which became the basis for the Base Entry Point.

funt d8724

We also indicated the most important key levels in the EUR/USD pair. In the role of support, we marked the price zone in the area of TIU at 1.0530, which was broken through. After that, the price went to test this level, where we entered the market.

evro analitika a3b84

For today, the key price levels are as follows.
EUR / USD

Support-TIU around 1.0370;
Resistance-TIU around 1.0530.

evro 007f5
GBP/USD

Support TIU in the area 1,2385;
Resistance – TIU in the area of 1.2500 again.

funt analitika 849e6

More details about key price levels for other currency instruments can be found in our private chat in Telegram!

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