- March 23, 2023
- Posted by: Noureldeen Al Hammoury
The Federal Reserve’s decision was not surprising, they took a slight step back which was welcomed by equities. However, the main reason behind the decline at the end of the session is due to Janet Yellen’s remarks.
She told a Senate committee that she’s not considering expanding the FDIC’s insurance limit of $250K. “We’ve not considered or discussed having anything to do with blanket insurance or guarantees of all deposits.
Despite the late selloff, markets were able to recover a bit in Asia. However, we maintain our sideways outlook until April 3rd when we believe that it will be the beginning of a new trend.
From today onwards, you need to keep an eye on the upcoming economic releases. The impact will be different this time. Any
EURUSD long trade from 1.0595 hit all targets at 1.08 and 1.09, netting +300 pips. I closed the majority of my position and will keep only 1 mini lot for a few more days. You should all do the same. EURUSD is currently ahead of time which means that a downside retracement is due.
NZDUSD’s long position from 0.6207 remains in profit, while NZDUSD reached as high as 0.6290 earlier today. You have three options:
- Close ½ of the position and move your stop to breakeven
- Move the stop to the breakeven only
- Close the full position and wait for another signal
Nothing much to comment about the data, Jobless Claims came in with a surprise lower this time, but the Current Account deficit narrowed to -207B much better than the -213B anticipated. Finally, New Home Sales also came in with a disappointment after revising January’s data sharply lower to 633K vs. 670K, while February saw a slight increase to 640K.
It’s Time To Buy Intel
Intel showed a notable stabilization since October and traded within a range. However, a few days ago, the time/price was equal, leading to a short-term retracement, which opens the door for a long-term opportunity.
You have two options
- Either buy INTL via margin or real shares and hold
- Look for $35 CALL Option for September (I personally bought this one at 0.75c) you can check the portfolio tab.