3 things to watch side by side, 500-1000 pips is the goal here!
USDCHF (chart posted yesterday), DXY and EURUSD are all lining up very well and confirming one another. Here is the big "what if" and of course it's related to another central bank being central banky!
Yellen speaks wednesday, expect plenty of USD volatility... PLENTY! IF these USD pairs can hold trend lines and support then we should be ready for some big moves.
USDCHF and closing above the daily trend line is important. 9835 will be easy for the daily candle to clear, 9885 (previous high) could be a little bit of a challenging level, FOMC will tell us more.
DXY 97.50 is important, watch the daily candle for a close above and then the FOMC, that's an important level, plus we're closing outside of the wedge and looking very bullish.
EURUSD 1.1125/00 was easily taken out, next stop looks to be 1.0900 so if that goes we should have an easy run of 150 pips and then another 200 pips into 1.0700.
In summary, all three of these need to be watched side by side and if FOMC minutes don't mess everything up we should see steady movement across the three pairs into some nice profit.
Yellen speaks wednesday, expect plenty of USD volatility... PLENTY! IF these USD pairs can hold trend lines and support then we should be ready for some big moves.
USDCHF and closing above the daily trend line is important. 9835 will be easy for the daily candle to clear, 9885 (previous high) could be a little bit of a challenging level, FOMC will tell us more.
DXY 97.50 is important, watch the daily candle for a close above and then the FOMC, that's an important level, plus we're closing outside of the wedge and looking very bullish.
EURUSD 1.1125/00 was easily taken out, next stop looks to be 1.0900 so if that goes we should have an easy run of 150 pips and then another 200 pips into 1.0700.
In summary, all three of these need to be watched side by side and if FOMC minutes don't mess everything up we should see steady movement across the three pairs into some nice profit.
Jared Johnson
Union Hedge Funds
Union Hedge Funds
