Meanwhile Euro fell sharply from its recent high after dollar bid weigh every currencies to grind lower. Additionally Fed also called for additional fiscal aid notably for the most vulnerable section of the society and they mentioned to purchase $120 bn bonds per month as part of yield curve control mechanism.
Parallely minutes also pulled down Gold and US equities as Federal Reserve damped investors’hopes of clarity on the future path of interest rates. Going forward key economic releases from Euro zone and the UK will guide the broad dollar move in coming days. However sterling got supported after recent uptick in headline inflation which may push rate setters to rethink rate guidance.
TREND : WEAK BEARISH
Time : 20/08/2020
Pivot : 1.1876
Technical View : LONG ABOVE 1.1896
Target : 1.1916, 1.1938, 1.2003, 1.2051
Technical View : SHORT BELOW 1.1856
Target : 1.1836, 1.1786, 1.1749, 1.1674