Mid term short
We expect a drop in the price that broke the 200-hour moving average towards the main correction level of 38.2%, and if this level is broken, a decline to the 61.8% Fibonacci retracement level is anticipated.
With the expectation of a 0.50-point rate cut from the FED in September starting to decrease to 0.25 points, we may see a correction movement in the U.S. stock markets overall.
Additionally, the recovery in the DXY and the breakout of the short-term downward channel also strengthen our expectation. We recommend setting the stop-loss level above the previous peak.
With the expectation of a 0.50-point rate cut from the FED in September starting to decrease to 0.25 points, we may see a correction movement in the U.S. stock markets overall.
Additionally, the recovery in the DXY and the breakout of the short-term downward channel also strengthen our expectation. We recommend setting the stop-loss level above the previous peak.
Trade closed: target reached
Price reach the 2nd TP. You can close most of your trades and bring your SL level back to breakeven.
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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.
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.