Powell Plans to Continue as Fed Chair

GOOGL posted a 3.8% gain within 24 hours and is trading above its 20‑day simple moving average, yet its MACD remains below the signal line, signaling short‑term weakness. The RSI sits at 68, in the overbought zone, raising the likelihood of a correction. Overall, the Fed’s steady stance combined with technical indicators points to a modest decline over the next 1–3 days. However, market dynamics can shift rapidly, so risks persist.

This development may support the stability of the USD, although the current downward trend persists. With the RSI at 33.8, the currency is in an oversold region, suggesting a potential short‑term rebound. The MACD is negative but sits just above the signal line, which can be interpreted as a mild bullish cue. Overall, over a 1‑3 day horizon, the DXY is not expected to exhibit a clear directional move, though a modest recovery remains possible.

Powell’s announcement of his intention to remain as Fed Chair may provide a modest bullish signal for the USD. However, technical indicators suggest a more cautious outlook: the price is trading just below the 20‑period simple moving average (SMA20) and the MACD is in negative territory. The RSI sits at 46, well outside overbought or oversold zones, indicating that a significant short‑term move is unlikely. Consequently, the yen is expected to remain in a relatively narrow range against the dollar in the near term.

Powell’s statement to continue as Fed Chair may provide short‑term support for the USD. The USDTRY is trading above its 20‑ and 50‑day moving averages, indicating a short‑term bullish trend. However, the MACD is below the signal line and the RSI is at a moderate level, signaling a potential correction risk. Overall, a modest rise in USDTRY is expected over the next 1‑3 days, although high inflation and risk perception in Turkey may constrain this movement.