Wednesday’s FED Announcements have produced bullish action due to the statements issued. For the intermediate-term, the USD Index is likely to grind higher in anticipation of a hawkish FOMC Minutes release and upcoming September FED meeting.
The last three sessions have been big for September USD Index futures. Price has broken above topside resistance on the daily chart. For now, this market appears poised to test the yearly Triple-Top present in the 95.220-95.440 range.
Here is the short trade:
1)Entry: Sell 95.220
2) Stop Loss: 95.505
3)Profit Target: 94.935
4)Risk Vs Reward Ratio: 1/1
The last three sessions have been big for September USD Index futures. Price has broken above topside resistance on the daily chart. For now, this market appears poised to test the yearly Triple-Top present in the 95.220-95.440 range.
Here is the short trade:
1)Entry: Sell 95.220
2) Stop Loss: 95.505
3)Profit Target: 94.935
4)Risk Vs Reward Ratio: 1/1