Dollar Outlook for Week 24 -> DXY, JPY, CHF, GBP
Last week I got surprised by strong USD. Not one of the expected predictions came true and therefore no trades have been taken in the $ pairs.
Last week news favored a stronger USD.
Inflation is still unexpected high despite aggressive rate hikes. It seems a 0.5 hike for the next meeting on Wednesday is already fully priced in. Further hikes in the coming months are likely.
On the other hand the markets seem very fragile and therefore an aggressive stance from the FED and other central banks might risk a further slowdown and even more volatility in the markets.
Therefore I still believe the strong $ is only temporary.
→ All the current Outlooks are based on MT weakening of the USD.
→ Outlook solely based on PA.
Wait for confirmation before entering a trade and consider FX correlation.
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Glossary:
HTF – Higher Time Frame
LTF – Lower Time Frame
MT – Medium Term
DT – Down Trend
UT – Up Trend
BO – Break- out
PA – Price Action
CS – Candle Stick
SL – Support Level
RL – Resistance Level
TC – Trend Channel
Color Code:
Blue solid line – Actual PA Structure
Blue dashed line – Legacy PA Structure
Violet dashed line – Area of Sensitivity S/R Levels
Orange dotted line – My Alarms
Last week news favored a stronger USD.
Inflation is still unexpected high despite aggressive rate hikes. It seems a 0.5 hike for the next meeting on Wednesday is already fully priced in. Further hikes in the coming months are likely.
On the other hand the markets seem very fragile and therefore an aggressive stance from the FED and other central banks might risk a further slowdown and even more volatility in the markets.
Therefore I still believe the strong $ is only temporary.
→ All the current Outlooks are based on MT weakening of the USD.
→ Outlook solely based on PA.
Wait for confirmation before entering a trade and consider FX correlation.
-------------------
Glossary:
HTF – Higher Time Frame
LTF – Lower Time Frame
MT – Medium Term
DT – Down Trend
UT – Up Trend
BO – Break- out
PA – Price Action
CS – Candle Stick
SL – Support Level
RL – Resistance Level
TC – Trend Channel
Color Code:
Blue solid line – Actual PA Structure
Blue dashed line – Legacy PA Structure
Violet dashed line – Area of Sensitivity S/R Levels
Orange dotted line – My Alarms
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