EUR/USD - Do macroeconomic news really matter?!
"SHOW ME THE GRAPHS...."
Markets have a surprising way to move in a predictable way.
Beginning of this month Yellen claimed that maybe the FED went to far and needed to tapper it, she knew / knows what is coming, regardless i see a change of direction in the horizon that will take the price down to 1.16 once it reaches 1.223-1.23. Probably the trigger will come this Wednesday once inflation rates is published, the "market" will assume it's time to chill out a bit and start reducing the purchasing / QE, and down it goes.
DXY it's in a "support level" (I don't actually like this term) it's ready to start a long uptrend that will normally reach a level around 94
Cheers
Markets have a surprising way to move in a predictable way.
Beginning of this month Yellen claimed that maybe the FED went to far and needed to tapper it, she knew / knows what is coming, regardless i see a change of direction in the horizon that will take the price down to 1.16 once it reaches 1.223-1.23. Probably the trigger will come this Wednesday once inflation rates is published, the "market" will assume it's time to chill out a bit and start reducing the purchasing / QE, and down it goes.
DXY it's in a "support level" (I don't actually like this term) it's ready to start a long uptrend that will normally reach a level around 94
Cheers
Trade active
So far so good, we are pretty much touching the upper level I mentioned before ( 1.223), currently trading at 1.222. Now, can anyone guess what it's going to happen tomorrow once the FOMC Minutes is published?!
Note
Immediately after FOMC was published it went down hard time, as I informed.Now all the way down to 1.16 (on a 5 waves moves potentially ), I see it reach it until the end of July the latest.
Note
How much this pair can go down in a day? (0.5%-0.86%), we will see tomorrow once the Ifo Business Climate in Germany is releasedNote
As predicted it went down, now it can proceed in two ways:Option 1- in a zig zag as initially idealized (WXY - most likely scenario), if so will go up to 1.21 before resuming the final leg down to 1.16
Option 2- 5 Wave move, where this last leg was the third wave and will now start 4th wave up to 1.198 and then 5th wave down to 1.16
I'm more keen on option 1 but not excluding option 2 for now
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