Head and shoulders and local trendline - USD short vs. FED
Despite the planned rate hike on Wednesday the USD is showing increasing weakness.
The 20 SMA on the daily broke and price is challenging the local trendline.
The FED rate hike would generally be considered bullish for the USD, although a lot will be priced in by now. Shorting the USD against the macro situation seems to be a high-risk trade if held throughout the meeting.
The 20 SMA on the daily broke and price is challenging the local trendline.
The FED rate hike would generally be considered bullish for the USD, although a lot will be priced in by now. Shorting the USD against the macro situation seems to be a high-risk trade if held throughout the meeting.
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> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
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