Hey, traders. Since FOMC, there are big movement in the market.
Let's check what it was quickly.
We can see
1. the descending channel.
2. rebounding from the support on 10600.00
3. overlapped resistance on 11200.00
We should check
Monday - ECB President Lagarde Speaks
Wednesday - EIA Short-Term Energy Outlook
Thursday - US Core CPI (MoM) (Oct), US CPI (YoY) (Oct), US CPI (MoM) (Oct), US Initial Jobless Claims
Friday - Bristain GDP (MoM), German CPI (YoY) (Oct)
We can expect
1. the price keep upward movement from the support on 10600.00 to 11200.00 which is overlapped resistance.
2. the price dropping from resistance on 11200.00 to 10000.00
3. downward movement to 8000.00 by breaking the support on 10000.00
Beacuse concern about recession has reduced, maket could make upward movement.
But, still, Fed will increace their interest rate and the analysis predict that would be 5.25% ~ 5.50%.
It will be short-term upward moving and there will be downward movement around 11200.00 by following the descending channel.
For now, long-position would be better, but we should wait for the short position soon.
Let's see how it moves.
Thanks you for reading and hope this insight was helpful.
Analyzed by Han.
Let's check what it was quickly.
We can see
1. the descending channel.
2. rebounding from the support on 10600.00
3. overlapped resistance on 11200.00
We should check
Monday - ECB President Lagarde Speaks
Wednesday - EIA Short-Term Energy Outlook
Thursday - US Core CPI (MoM) (Oct), US CPI (YoY) (Oct), US CPI (MoM) (Oct), US Initial Jobless Claims
Friday - Bristain GDP (MoM), German CPI (YoY) (Oct)
We can expect
1. the price keep upward movement from the support on 10600.00 to 11200.00 which is overlapped resistance.
2. the price dropping from resistance on 11200.00 to 10000.00
3. downward movement to 8000.00 by breaking the support on 10000.00
Beacuse concern about recession has reduced, maket could make upward movement.
But, still, Fed will increace their interest rate and the analysis predict that would be 5.25% ~ 5.50%.
It will be short-term upward moving and there will be downward movement around 11200.00 by following the descending channel.
For now, long-position would be better, but we should wait for the short position soon.
Let's see how it moves.
Thanks you for reading and hope this insight was helpful.
Analyzed by Han.
