Price has been rising as anticipated. Note that a classic Wyckoff reversal took place with a Spring. This means that the BIG players had unwind their shorts position and is now waiting for what the Fed might do next. A 75bps hike next week would not be a surprise. What is more important to note is the forward guidance as in the DOT PLOT for the 2022 and 2023.
If the Fed maintain the momentum and upping the future hikes by the same amount as in 06/2022, then we can be assured of another massive DROP in EURUSD. But before this drop happens, there would be mad scramble for USD and expect price to go up further temporarily.
But what is worrying is that the FED may still call for an increase in future hikes BUT at a LOWER amount compared to 06/2022. In such as case, we better look to the US02Y for GUIDANCE. Any hint of it dropping below 50MA will mean that we must be careful when SELLING.
So, as for next week, we can be relatively assured that the price will rise. It has already touched and exceeded the resistance zone. It is now gathering momentum just below it while staying above the AR line.
Good luck.
P/S : As always, do not just believe what I say. Use your common sense.
If the Fed maintain the momentum and upping the future hikes by the same amount as in 06/2022, then we can be assured of another massive DROP in EURUSD. But before this drop happens, there would be mad scramble for USD and expect price to go up further temporarily.
But what is worrying is that the FED may still call for an increase in future hikes BUT at a LOWER amount compared to 06/2022. In such as case, we better look to the US02Y for GUIDANCE. Any hint of it dropping below 50MA will mean that we must be careful when SELLING.
So, as for next week, we can be relatively assured that the price will rise. It has already touched and exceeded the resistance zone. It is now gathering momentum just below it while staying above the AR line.
Good luck.
P/S : As always, do not just believe what I say. Use your common sense.
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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.