The European Central Bank is challenged by inflation.

Fabio Panetta Member of the Board of Directors of the ECB: The European Central Bank should not accept any further delays in raising inflation to its target, as the current outlook is unsatisfactory and persistent failures can damage the economy. The ECB has already exceeded its target of almost 2% for eight years and its projections indicate that it will continue to fail for years to come. The bloc struggles to absorb the depth left by a pandemic-induced recession.

  With the stimulus now nearing its limits, some politicians argue that the ECB should simply accept a slower rise in price pressures rather than try to do even more, but Panetta rejected this argument, warning that the costs outweigh the benefits.

Medium impact week. Price projections for the week. Contact us here.

EURUSD closed buy. Above 1.19 the preference is buy. Important highs in the area between 1.1920 and 1.1930. Caution with anticipating buys. If Monday’s open starts below 1.19 we go for sell at 1.1890 to 1.1880 and possible extension to 1.1870.

GBPUSD closed sell. High buy potential over 1.37. Below 1.37 we go sell at 1.3690 to 1.3680 and extensions. If we have confirmation over 1.3710 at the opening on Monday we can start buy up to 1.3730 and 1.3740.

USDJPY closed sell. Below 110.0 sell preference. At the opening on Monday we have sell at 109.50 to 109.40, there is the possibility of a last buy at 109.75 to 109.90.

USDCAD closed sell. Sell preference below 1.2530 to 1.2520 and 1.2510. Strategic change over 1.2540 to 1.2550 and extensions.

AUDUSD closed sell. Buy preference over 0.76. Below 0.76 high potential buyers. If in opening it manages to position above 0.7630, we will buy up to 0.7640 and 0.7650.

XAGUSD XAUUSD commodities closed buy. In silver the preference is buy over 25.0. At 25.30 we go buy until 25.40 and possible extension to 25.50. If the opening on Monday is sell we will expect buyers at 25.0. In gold the preference is buy, however, the market is marking highs below 1750.0 Ideally we will wait 1750.0 to buy until 1755.0 and 1750.0.

Bitcoin closed buy. Possible entries about 58,600 up to 59,000 and 59,500.