As was mentioned yesterday there is no clear trend in the market and the highest prospect that we would see range market in the next week or 2 weeks
Reasons the price is aiming to breakout?
1- FED being dovish at the moment.
2- All FED meetings remind the market that the inflation might grow more this year and next.
3- EU reopening.
4- Germany upbeat IFO climate index.
Reasons that the price action is 80% fake out?
1- Previous ECB meeting showed that there is no will to change the monetary policy as well and that it is to be maintained loosened.
2- All Germany's data seen dropped (GDP, Manufacturing PMI which has the highest importance in PMI data).
3- Upbeat U.S macroeconomic calendar data (initial jobless claims, all PMI factors, new home sales).
4- The high prospect that the FED would be HAWKISH in their next meeting.
Reasons the price is aiming to breakout?
1- FED being dovish at the moment.
2- All FED meetings remind the market that the inflation might grow more this year and next.
3- EU reopening.
4- Germany upbeat IFO climate index.
Reasons that the price action is 80% fake out?
1- Previous ECB meeting showed that there is no will to change the monetary policy as well and that it is to be maintained loosened.
2- All Germany's data seen dropped (GDP, Manufacturing PMI which has the highest importance in PMI data).
3- Upbeat U.S macroeconomic calendar data (initial jobless claims, all PMI factors, new home sales).
4- The high prospect that the FED would be HAWKISH in their next meeting.