What market participants expected:
- 2023 Sept: Betting one last rate hike (a 4th in year 2023) in Nov/Dec FOMC meeting.
- 2023 Dec: No rate hike in Dec FOMC meeting. Afterwards, expected the Fed to cut in March 2024
What the Fed told us:
- According to the 'dot plot', majority of committee anticipate a 50-100 bps cut by the end of 2024.
- Powell once said...
1. PCCW ( 0008.HK ) shows a very solid bottom at $4.20 since 2016.
2. $4.20 did not only show support on Aug 2003, Mar 2005, and Jan 2008 but also set a ceiling from 2008-2013.
3. An up day with strong volume on 27th May.
4. Dividend yield above 7% that suits for mid-run and range trading.
Trades:
BUY at any price between $4.20 & $4.40.
Upside Target: $4.80...
1. GBP/USD broke its upward trend-line 2 days ago.
2. The line was tested to be a resistance.
3. Price movement currently goes down along with its trading channel and the 21-hour EMA.
4. Meanwhile, 1.3620 has been a key level as it is a Fibonacci retracement level (23.6%), former tops and bottoms in hourly chart.
It is a short-term trading (possibly a day...
Very simple and basic chart drawing but that may tell you the most important hint.
Downward trendline developed since 30 Jul and was broken a month after. Now, 8 Sept, it comes back to the line.
Technically it is a buy signal when the price touched the line. In the other words, when the price breaks below the line, a stronger selloff is anticipated.
1. Uptrend line (Long-run): Lining up bottoms of 2016 and 2020.
2. Fibonacci retracement: 61.8% of latest uptrend (Mar 2020 - Jan 2021)
3. Former tops: In monthly chart, ~79.50 was the top of consolidation area in 2H2020.
Trades:
A) BUY - hold and wait for actual buy signals (above 9EMA, MACD cross, ROCxSROC)
B) SELL - short it when price touch 9EMA
