Weekly report: DXY (Short)
The previous week the price moved to the downside, ending the week inside a channel.
What to take on consideration for this week:
* On the fundamental side: On Wednesday the Federal Reserva will gives his Economics Projections, Statements, and fed rate new data.
The key here is to analyzes the comments about the recents data, in special the last Job Report of 20,000 vs 180,000 and what do the Fed expect to futures data.
Right now the expectation to fed rate behavior is to keep it in 2.5 with pressures in the middle term to a lower rate, so there are pressures to the DXY to keep going lower.
*On the tehcnical side: The price is in an upward channel where the price could not break yet the previous high
So this week can break the channel to the downside, if this happen wait for a new retrace to take a short position.
Or make a new touch in the high zone, if this happen, must look to a price action signal to go short in the high.
Source: cnbc.com/2019/03/15/fed-to-make-forecasts-as-stocks-on-precipice-of-breaking-out.html
forexfactory.com/calendar.php
cmegroup.com/trading/interest-rates/countdown-to-fomc.html
What to take on consideration for this week:
* On the fundamental side: On Wednesday the Federal Reserva will gives his Economics Projections, Statements, and fed rate new data.
The key here is to analyzes the comments about the recents data, in special the last Job Report of 20,000 vs 180,000 and what do the Fed expect to futures data.
Right now the expectation to fed rate behavior is to keep it in 2.5 with pressures in the middle term to a lower rate, so there are pressures to the DXY to keep going lower.
*On the tehcnical side: The price is in an upward channel where the price could not break yet the previous high
So this week can break the channel to the downside, if this happen wait for a new retrace to take a short position.
Or make a new touch in the high zone, if this happen, must look to a price action signal to go short in the high.
Source: cnbc.com/2019/03/15/fed-to-make-forecasts-as-stocks-on-precipice-of-breaking-out.html
forexfactory.com/calendar.php
cmegroup.com/trading/interest-rates/countdown-to-fomc.html
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