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

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?!

Comment:

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.

Comment:

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 released

Comment:

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