The price is in the highest level since 2017, rebounding at the same time in a diagonal trend area which one had change from support to resistance diagonal area.
What to take on considerations:
In the fundamental side:
On wednesday is the must important FOMC meeting in years, because is the moment the market must expect a cut rate since 2008. The market right now is poundering if there is going to be some dissents between the fomc boards members about if there is going to be more than one cut rate this year, or if going to be three, the market want to hear if there is going to be more than one cut rate for this year. According the CME Watchtool the market expect three cut rates for the year end. In the global scenario the negotiation between US and China are resumed and EU and US start to place tariff each other. The new UK president had place a date to leave the EU.
There is the ADP Non-Farm Employment Change for wednesday also.
In the technical side:
The price is in a special area, it could get a little bit more higher but is in a resistance area which one hadnt been broken since 2017, in the monthly chart, the price could not break de 61.8 fibo retracement.
What to take on considerations:
In the fundamental side:
On wednesday is the must important FOMC meeting in years, because is the moment the market must expect a cut rate since 2008. The market right now is poundering if there is going to be some dissents between the fomc boards members about if there is going to be more than one cut rate this year, or if going to be three, the market want to hear if there is going to be more than one cut rate for this year. According the CME Watchtool the market expect three cut rates for the year end. In the global scenario the negotiation between US and China are resumed and EU and US start to place tariff each other. The new UK president had place a date to leave the EU.
There is the ADP Non-Farm Employment Change for wednesday also.
In the technical side:
The price is in a special area, it could get a little bit more higher but is in a resistance area which one hadnt been broken since 2017, in the monthly chart, the price could not break de 61.8 fibo retracement.
