It’s been a risk off environment over the last few weeks and because of this, we have seen the appreciation of GBPUSD and EURUSD which was called weeks in advance.
With a massive imbalance above and daily sellside liquidity taken, the question is will Dollar Index fill the daily SIBI before the rate announcements happen?
If this happens, it will be a classic ‘buy the rumour, sell the news’ scenario.
Next week will be very volition due to the news events being released and this could be the catalyst for price to expand into the local SIBI outlined on the daily timeframe.
With a massive imbalance above and daily sellside liquidity taken, the question is will Dollar Index fill the daily SIBI before the rate announcements happen?
If this happens, it will be a classic ‘buy the rumour, sell the news’ scenario.
Next week will be very volition due to the news events being released and this could be the catalyst for price to expand into the local SIBI outlined on the daily timeframe.
Note
With the upcoming rate announcements later on tomorrow, will we see an aggressive pullback into the SIBI?
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Bias is bullish today
Target 1: 104.017
Target 2: 104.130
Target 3: 104.392
All has been mentioned on my telegram earlier!
Trade closed: target reached
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Target 1 & 2 met!
Target 3 up for grabs next week so this has been a successful forecast so far.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.