Technical-Wise:
- The DXY has made a considerable bullish move last week thus creating a imbalance.
- I am expecting for USD to weaken and retest any of the blue S&R lines I've plotted on the chart.
Fundamental Wise
- The FOMC meeting will be held tomorrow and would largely affect prices
- The general sentiment is towards hawkish as most expect a tapering to be soon implemented with high CPI numbers. (optimistic economic projections, hints of a taper announcement as soon as next month, etc)
- Closely watch out for the Federal Funds Rate, we may see a major move and volatility based on this news release.
- Failure of projected numbers of expectations may cause USD to drop.
- The DXY has made a considerable bullish move last week thus creating a imbalance.
- I am expecting for USD to weaken and retest any of the blue S&R lines I've plotted on the chart.
Fundamental Wise
- The FOMC meeting will be held tomorrow and would largely affect prices
- The general sentiment is towards hawkish as most expect a tapering to be soon implemented with high CPI numbers. (optimistic economic projections, hints of a taper announcement as soon as next month, etc)
- Closely watch out for the Federal Funds Rate, we may see a major move and volatility based on this news release.
- Failure of projected numbers of expectations may cause USD to drop.