Hey Traders! 👋
For Day 44/100 of our challenge, we will look at where the bearish Dollar will go to next
Technicals:
- 190-day range broken to the downside
- Closure below support
- Next key level is 99
- Expecting 99 this coming week but can potentially struggle to close below it
Fundamentals:
- With a soft inflation print last week and also highlighting decline in inflation across the board, it gives the Fed less reason to follow through on their "two more rate hikes" plan. This will cause the market to reprice "some" of the hope built up on this statement by the Fed and may even continue to reprice the rate cut bets this year.
We're bearish on the dollar for the week ahead.
Have a nice Sunday ☀️
For Day 44/100 of our challenge, we will look at where the bearish Dollar will go to next
Technicals:
- 190-day range broken to the downside
- Closure below support
- Next key level is 99
- Expecting 99 this coming week but can potentially struggle to close below it
Fundamentals:
- With a soft inflation print last week and also highlighting decline in inflation across the board, it gives the Fed less reason to follow through on their "two more rate hikes" plan. This will cause the market to reprice "some" of the hope built up on this statement by the Fed and may even continue to reprice the rate cut bets this year.
We're bearish on the dollar for the week ahead.
Have a nice Sunday ☀️
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