Unemployment Claims (USD) - 201k (16k Less than Forecasted)! *Bullish read for DXY!
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Second Buy Entry @ .8802
After the mixed results of Manufacturing and Services PMI, Price had made a big Bullish push, breaking the Falling Resistance. Once price made an attempt to break down lower and couldn't, I decided to take another Buy Entry!
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Beautiful Bullish push into the overhead Resistance Zone to create New Highs this morning!!
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By the End of Last Week, Price was unable to break the overhead Resistance Zone!
-CHF has CPI released on Monday with a Bullish undertone to the forecast and then USD has a BUSY news week so BE VIGILANT!
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Price is coming back into my Entry Zone!!
Looking for a reaction in the .8757 - .8737 range again!
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Buy Entry @ .8765!
Beautiful reaction off the Zone and touch of the 200 EMA on 4Hr Chart!
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Price is right back up at the Resistance Zone!
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Swiss National Bank CUT RATES!!! & Fed decided to HOLD RATES!
Fundamentally this explains why we are seeing this massive push to the upside to our Range Target!
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This week for news will be HEAVY on USD: -New Home Sales (Mon), Durable Goods/Consumer Confidence (Tue), FOMC Waller Speaks (Wed), Final GDP/Unemployment/Pending Home Sales (Thu) & Core PCE Price Index/Powell Speaks (Fri) *Most Forecasted to have BULLISH readings
So we could potentially see Price either push up to the Range Target OR could see Price position itself for another Retracement!
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We are seeing a HUGE push to the upside!!
I am anticipating price to possibly create a High in the overhead Resistance Zone @ .9080 - .9120!
-If price does descend before finishing to our Range Target, we could potentially look for another Buy Entry!!
between 0.87 and 0.88 we may get a decent spike to the upsides... Inflation is easing in Switzerland meanwhile it's still a concern in the US!
Novi_Fibonacci
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@JoeChampion, 100% agree! I think it'll take all week this week possibly for USD (at least until Unemployment & Flash Services/Manufacturing PMI comes out on Thursday) to make its move depending on how hot or cold news prints. Along with USD - 3.1% y/y, .3% m/m & CHF - .2%, I'd think investors would stay interested in the USD given how they expected it to print 2.9% y/y, .2% m/m