Technical view: -MACD baselines will cross bearish which implements further down movement in short term -RSI line broke back in triangle and is searching for support -100 day moving average crossed the 200 day moving average which is strong bearish indicator if the daily MA follows as well
Fundamental view: Statements by important central bankers from the USA caused excitement and price movements on the currency market.Deputy Chairman Richard Clarida had spoken out in favour of an interest rate cut in the near future.It is worth acting quickly to lower interest rates at the first sign of economic distress, Clarida said.
At about the same time the influential head of New York's central bank, John Williams, had made a similar statement, burdening the dollar and giving the euro a boost in return. The Williams statements caused confusion in the financial markets. On the night of Friday, a spokeswoman for the New York regional central bank put the statements into perspective. They had fallen within the framework of an "academic speech" and should not be understood in the context of current monetary policy.
Preferring the short one, but everything could happen. nice chart keep up the hard work :)
DK_Investment
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@UGTraders, thanks mate, I preferr the short scenario as well, daily candle is very bearish but made by stupid FED statements, very hard to predict what will happen but in reference to FED interest rate cut at the end of the month I expect first an long shakeout and after that bigger up movement.
DK_Investment
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@DK_Investment_Consulting, market moved exactly as expected ;)