In this video update, we discuss the two scenarios ahead of this meeting and what could
happen if the Fed discuss further cuts in the future or if they downplay the need to cut rates going forward.
Inflationary data suggest a cut is likely but will FED chair Powell want to open the flood gates for the USD bears.
We are not so sure...
Today should be very sedate until 2:00 P.M. so will be looking for a range between 2936 and 2919, will looks for smaller trades in that range until we see a break out of this channel. Above this range will target 2945, and below looking to target 2905. Will follow up with where I entered to help you see how I evaluate the trade
Clear Short, why?
1) Totally overbought D1-M1
2) No Fed rate cut
3) Worst economic outlook since 2001
4) USA - China deal? Come on :D Not
5) Gold runs up
This is typically a blow off in the market bubble before recession.
Here we can look to short the dollar after price was rejected at the .618 Fib retracement after making a double top
. Although this rising channel is still intact, we can sell the retest of structure if price manages to break the ascending support line.
IF this channel is broken, I will target the 1.272 extension of the initial bearish impulse leg: a level with...
The Fed interest rate announcement today will set the inverse trend pace between gold (XAUUSD) and the US dollar (DXY)
The Fed leaving interest rate unchanged set the tone for possible rate cut in coming months.
The Fed is expected to cut interest rate at least two times by end of 2019.
Gold trends upward which in effect negates the...
I know we've all been waiting for some real moves on this currency for quite a while now, withe the clear break out and pull back on this setup I could definitly see some possible shorts coming soon, stay tuned
After yesterdays FOMC announcement that they were going to support growth the market took it as a sign of future interest rate cuts. A cut would leave IR at 2% still much higher than any other developed currency. This could be the star of the drop of the dollar but I feel it will be a long slow process, to start with any way. After yesterdays sudden drop I think...
Looking at current supply and demand levels in the 4hr and daily time frames of DXY, price is currently coming into a demand level. If this demand level holds, then price will be expected to touch the level and turn higher towards the labelled supply level. Looking at pairs that trade against the dollar, AUDUSD/GBPUSD/EURUSD all are very close to supply on similar...
Beautiful setup on Daily tf, caught eu entry exactly at release of high impact news release, again rsi was unrelated due to many factors 1. being rushed on time but 2. the setup was too clean price action alone