Fundamental Backdrop
Technical Confluences
Idea
If Fed Chair Powell's speech is hawkish, we could see DXY break the near-term resistance at 103.500, before heading towards the next resistance at 105.000.
Alternatively, if the speech is dovish, we could see price head back down towards the minor support at 102.765
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.
- Unemployment Claims decreased from 264K to 242k, far better than the forecast of 253K. This signals an overall healthier economy.
- Fed Chair Powell will be speaking later on today on the concerns around the status of the US debt ceiling.
Technical Confluences
- Near-term resistance at 103.500
- Next resistance at 105.000
- Minor support at 102.765
Idea
If Fed Chair Powell's speech is hawkish, we could see DXY break the near-term resistance at 103.500, before heading towards the next resistance at 105.000.
Alternatively, if the speech is dovish, we could see price head back down towards the minor support at 102.765
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.
