Last night, FED Chairman Powell failed to push the market higher as he stayed on status quo on FOMC’s QE plan. Equities market ended lower by 0.5% after seesawing most of the day. Futures plunged 300 points deep during Asian session. Although it has recovered those losses, we may just see some more selling soon as market lacks fresh stimulus to go higher.
Bulls are in a delicate position as a few more Covid-19 stories may easily tip the scale to the bear’s favor.
Asian session started with bad data from New Zealand and Australia. Both currencies recuperated but are hitting key resistance levels.
What else can push the market higher now?
Bank of England will be announcing policy rates at 7PM (GMT+8).
Trade Opportunity for Today:
Entry 73.5, SL 73.8, TP 72.50