Hey, guys. New week has been started.
Hope you guys had good weekend.
Let's check the US100 chart quickly.
We can see
1. the descending channel.
2. the price has reached top line of the descending channel.
3. overlapped support on 10000.00
We should check
Monday - EU CPI
Tuesday - British Manufacturing PMI, US ISM Manufacturing, JOLTs Job Openings
Wednesday - German Manufacturing PMI, German Unemployment Change, ADP Nonfarm Employment Change, FOMC Statement, Fed Interest Rate Decision, FOMC Press Conference
Thursday - ECB President Lagarde Speaks, British Composite PMI, British Services PMI, BoE Interest Rate Decision, BoE Gov Bailey Speaks, US Initial Jobless Claims, US ISM Non-Manufacturing PMI
Friday - British Construction PMI, ECB President Lagarde Speaks, US Nonfarm Payrolls, US Unemployment Rate
We can expect
1. jump up to 12800.00 by breaking the resistance on 11550.00 which is top line of the descending channel.
2. following the descending channel and falling to 10000.00 which is middle line of the descending channel.
FOMC will be held tomorrow and we can finally figure out how they will regulate their monetary policy.
If Fed shows dovish stance, market will jump up. At this, we gonna start to buy when US100 breaks 11800.00.
But, if Fed keeps their stricted monetary policy, the price will follow the descending channel and drops to 10000.00. This will be chance to sell.
For now, the chart is showing that the descending channel hasn't been broken yet. And, this means Short position is more favorable than Long position.
Till FOMC meeting is held, we will keep our Short position.
Let's see how it moves.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
Hope you guys had good weekend.
Let's check the US100 chart quickly.
We can see
1. the descending channel.
2. the price has reached top line of the descending channel.
3. overlapped support on 10000.00
We should check
Monday - EU CPI
Tuesday - British Manufacturing PMI, US ISM Manufacturing, JOLTs Job Openings
Wednesday - German Manufacturing PMI, German Unemployment Change, ADP Nonfarm Employment Change, FOMC Statement, Fed Interest Rate Decision, FOMC Press Conference
Thursday - ECB President Lagarde Speaks, British Composite PMI, British Services PMI, BoE Interest Rate Decision, BoE Gov Bailey Speaks, US Initial Jobless Claims, US ISM Non-Manufacturing PMI
Friday - British Construction PMI, ECB President Lagarde Speaks, US Nonfarm Payrolls, US Unemployment Rate
We can expect
1. jump up to 12800.00 by breaking the resistance on 11550.00 which is top line of the descending channel.
2. following the descending channel and falling to 10000.00 which is middle line of the descending channel.
FOMC will be held tomorrow and we can finally figure out how they will regulate their monetary policy.
If Fed shows dovish stance, market will jump up. At this, we gonna start to buy when US100 breaks 11800.00.
But, if Fed keeps their stricted monetary policy, the price will follow the descending channel and drops to 10000.00. This will be chance to sell.
For now, the chart is showing that the descending channel hasn't been broken yet. And, this means Short position is more favorable than Long position.
Till FOMC meeting is held, we will keep our Short position.
Let's see how it moves.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
