The Fed left its policy settings unchanged following its January policy meeting as expected. While responding to questions from the press, FOMC Chairman Jerome Powell noted that there was "quite a bit of room" to raise the policy rate without hurting the labour market. Powell further added that inflation has gotten worse since the December meeting and reaffirmed that the committee was in favour of hiking the policy rate in March "assuming that the conditions are appropriate for doing so."
On the 11th January 2022 I highlighted the potential bull flag on the US Dollar Index. This is what I wrote:
‘Being able to identify some basic technical analysis patterns can really help in your trading decision making. A bull flag suggests the break, as the name implies, should be to the topside. Patterns can help you decide whether to maintain a long position and just as importantly when to add to it. A close above the top of the flag will complete it and the ‘flagpole’ will give you an upside measurement or target for your trade.
On this example a close above 97.00 would complete the flag pattern and offer an upside measurement to 100.00 +.’
Having seen a strong rebound from the 20-week ma at 95.07 2-weeks ago, my opinion remains in play and this bull flag looks ready to break higher…trade accordingly.
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
On the 11th January 2022 I highlighted the potential bull flag on the US Dollar Index. This is what I wrote:
‘Being able to identify some basic technical analysis patterns can really help in your trading decision making. A bull flag suggests the break, as the name implies, should be to the topside. Patterns can help you decide whether to maintain a long position and just as importantly when to add to it. A close above the top of the flag will complete it and the ‘flagpole’ will give you an upside measurement or target for your trade.
On this example a close above 97.00 would complete the flag pattern and offer an upside measurement to 100.00 +.’
Having seen a strong rebound from the 20-week ma at 95.07 2-weeks ago, my opinion remains in play and this bull flag looks ready to break higher…trade accordingly.
Disclaimer:
The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
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