The index took a dive on speculation on double rate cuts.
However, the Fed members are not dovish as the market.
So, the market is set to correct its bearish over run.
Technically, the pair has bullish ABCD pattern which could trigger a deep correction.
Also the MACD indicator is tapering its bearish bias and could cross to bullish zone anytime soon.
Hence, we expect the pair to climb higher from here.
However, the Fed members are not dovish as the market.
So, the market is set to correct its bearish over run.
Technically, the pair has bullish ABCD pattern which could trigger a deep correction.
Also the MACD indicator is tapering its bearish bias and could cross to bullish zone anytime soon.
Hence, we expect the pair to climb higher from here.