XAUUSD UPDATE
Updated
hi all
The FOMC meets eight times per year and releases forecasts in March, June, September, and December.
In June, the Fed announces two rate increases. In July, 1st raises the rate to 5.50.
Since the impact of oil only recently begun in September, I doubt the FOMC will hike interest rates to 5.75 percent this week.
As a result, the FOMC will hike rates for the 2nd time in October, to 25 basis points, once the October CPI data exposes the damage by oil cut.
After the FOMC meeting in October, I expect the USDX to gain.
technical point: I watch for a rejection at level 1900 for pullback
**My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills**
Thanks a lot for your support
The FOMC meets eight times per year and releases forecasts in March, June, September, and December.
In June, the Fed announces two rate increases. In July, 1st raises the rate to 5.50.
Since the impact of oil only recently begun in September, I doubt the FOMC will hike interest rates to 5.75 percent this week.
As a result, the FOMC will hike rates for the 2nd time in October, to 25 basis points, once the October CPI data exposes the damage by oil cut.
After the FOMC meeting in October, I expect the USDX to gain.
technical point: I watch for a rejection at level 1900 for pullback
**My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills**
Thanks a lot for your support
Note
break the channel pullback i short till 1900
good luck
Trade active
Note
diamond patternNote
partial close when reach daily support & be+1
Note
reach 1900 traliing stop 100target 1885 ( double bottom)
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