(Weekly backtest and review) EURUSD
Key Focus:
(DEC 1)Powell commented that acknowledged the risks of not raising rates enough to sustainably cool inflation versus over-tightening and sending the economy into a downturn are becoming more balanced.
Indicates FED would keep rate unchanged until there is evidence to prove that current interest rate unable to stop inflation rate from hiking.
Money outflows from dollar would flow to other currencies, stock market, cryptocurrency etc.
Resistance:
-1.09710
-1.12758
Support: 1.08340
(DEC 1)Powell commented that acknowledged the risks of not raising rates enough to sustainably cool inflation versus over-tightening and sending the economy into a downturn are becoming more balanced.
Indicates FED would keep rate unchanged until there is evidence to prove that current interest rate unable to stop inflation rate from hiking.
Money outflows from dollar would flow to other currencies, stock market, cryptocurrency etc.
Resistance:
-1.09710
-1.12758
Support: 1.08340
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