Stocks Rotate Lower On Powell Prepared Remarks.


Powell not so dovish as hoped in the prepared remarks. The comments have sent the stocks back to the downside. The S&P and Nasdaq are now lower on the day. The Dow holds onto a modest gain.

The USD has moved back higher.

EUR/USD is back below the 100/200-hour MA near 0.9925 area. GPB/USD is back below the 100-hour MA at 1.1529. 200-hour MA is at 1.14758. USD/JPY is also back higher but below the broken 61.8% and earlier low for the day between 146.72 and 146.81

Markets will remain volatile as Powell’s comments are not as dovish, but he is open ended in his comments as well. They will “discuss” if a lessening of the 75 bps is needed in December, but they have some “ground to cover”

This Post Has One Comment

Leave a Reply

Important Link

Fund Your Deriv Account
Withdraw Funds to Your Local Currency
VIP Trading Signals
Learn To Trade

Contact Us

Follow Us


Forex, Crypto, Options, and Binary Options have both large potential rewards and large potential risks. Therefore, before investing or trading any of the assets, ensure you are aware of and willing to accept the accompanying risks. Do not trade money you cannot afford to lose.

All Rights Reserved. None of the content of this website can be published elsewhere by any means without the prior consent of the owner(s). Please, check our terms & conditions and privacy policy before continuing to use this website.

This website and its owner(s) are not in any way liable for any incurred loss, whether caused by the information provided on this website or otherwise. The use of this website, including the content and information provided, is the user’s sole liability.