Still holding on to my EUR/USD short positions since late June/early July and it’s been quite a game of patience at this point but as I have been analyzing the U.S. Dollar for the past few months, from a purely technical analysis perspective, I’m currently still seeing the U.S. Dollar potentially carving out a bottom here and make a run to re-visit the 100 - 102 price zone.
I know markets are highly anticipating a Federal Reserve rate cute in September but with inflation still sticking around, it may not be such a sure thing just yet.
All eyeballs and ears will be on tap for Powell’s speech on Friday.
Technical analysis signals:
• Descending Broadening/Expanding Wedge (Bullish Pattern)
• MACD Histogram showing a sign of potential bearish exhaustion
I know markets are highly anticipating a Federal Reserve rate cute in September but with inflation still sticking around, it may not be such a sure thing just yet.
All eyeballs and ears will be on tap for Powell’s speech on Friday.
Technical analysis signals:
• Descending Broadening/Expanding Wedge (Bullish Pattern)
• MACD Histogram showing a sign of potential bearish exhaustion
•NYC Trader since 2008
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•NYC Trader since 2008
•Need Help Trading? internaltrader.com/helptrading
•Need Help Trading? internaltrader.com/helptrading
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.