Fundamental Commentary:
Wednesday's meeting by the FED has proved true that the FED is making a new monetary policy shift to normalize sooner than later, to reducing the size of the balance sheet; and, this action that will send yields higher . This has brought strength into the USD. Thus, USD with strength being signaled, I a positive the USD in the medium-term for another quarter or two.
Technical Commentary:
Fib resistance
Middle of Pitchfork
Horizonal resistance
Trapped traders may bail out at 0.7600
Still the beginning of Wave 3
A pullback is developing; hopefully, into the resistance area, where I will short.
Wednesday's meeting by the FED has proved true that the FED is making a new monetary policy shift to normalize sooner than later, to reducing the size of the balance sheet; and, this action that will send yields higher . This has brought strength into the USD. Thus, USD with strength being signaled, I a positive the USD in the medium-term for another quarter or two.
Technical Commentary:
Fib resistance
Middle of Pitchfork
Horizonal resistance
Trapped traders may bail out at 0.7600
Still the beginning of Wave 3
A pullback is developing; hopefully, into the resistance area, where I will short.
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.
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.