Dollar sales in the first half of the day

29.04.2021

In the first half of the day I expect a decline in quotations against the background of the sell-off of the US currency after yesterday’s Fed meeting, inasmuch as investors expected to hear statements about the curtailment of stimulus measures, but in fact it was announced the need for stimulus. Those traders who bet on the strengthening of the dollar were disappointed and began to liquidate their positions in the US currency.

In the second half of the day, the US currency may compensate for some of the lost positions against the background of the publication of positive data on US GDP for the first quarter, insofar as the New York Fed model indicates the data output better than the median forecasts.

Investment idea: Sell 108.85/109.15 and take profit 108.30.