Fundamental Backdrop
Technical Confluences
Idea
With the Flash Manufacturing PMI and Flash Services PMI expected to drop, it could cause the DXY to drop further towards the 102.700 minor support.
If the FED chooses to pause or indicate pausing of interest rates, it can cause the DXY to drop even further towards the 102.200 major support level.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
- The Flash Manufacturing PMI is expected to decrease from 50.2 to 50.0 which shows contraction in economic health.
- The Flash Services PMI is also expected to drop from 53.6 to 52.6.
- The FOMC Meeting Minutes on Thursday. The FED will talk about future interest rates which was previously indicated to be on pause.
Technical Confluences
- Near-term resistance at 103.500
- Next resistance at 105.000
- Minor support at 102.765
- Major support at 102.200
Idea
With the Flash Manufacturing PMI and Flash Services PMI expected to drop, it could cause the DXY to drop further towards the 102.700 minor support.
If the FED chooses to pause or indicate pausing of interest rates, it can cause the DXY to drop even further towards the 102.200 major support level.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
