Today, ahead of the #FED meeting on September 20, I will write a few words:
U.S. inflation accelerated to 3.7% in August from 3.2% in July
At the same time, the #FED has fewer and fewer opportunities to influence the situation.
What the #FED will decide today, of course, no one really knows. But the statistics of surveys of funds and major market participants say that most likely the rate will not be raised this time, but they may say that another rate hike is possible due to the economic situation
And also that we should expect a rate cut not earlier than in the second half of 2024. We will not argue with these statements. But what will happen to the market in the future until the end of the year and beyond is something everyone would like to know for sure
🗣 My opinion: not to raise the rate will mean a neutral-positive background for the $DOLLAR. Actually it means that for other currencies and gold it will be a negative background in the pair, thus we should expect lower prices. But let's wait for the figures to be released at 18:00 GMT
BUT, if not to pay attention to the fundamental part, but only to the technical analysis, but the dollar can form a correction to 104.37. And this level can decide the further fate. If it breaks, the dollar may go to 102.90 and test MA-200. But, if 104.37 pushes the price away, the dollar will return to 105.34 on the retest and may break the line with the subsequent growth to 107.9
By the way, MA-200 and MA-50 will form a signal soon
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U.S. inflation accelerated to 3.7% in August from 3.2% in July
At the same time, the #FED has fewer and fewer opportunities to influence the situation.
What the #FED will decide today, of course, no one really knows. But the statistics of surveys of funds and major market participants say that most likely the rate will not be raised this time, but they may say that another rate hike is possible due to the economic situation
And also that we should expect a rate cut not earlier than in the second half of 2024. We will not argue with these statements. But what will happen to the market in the future until the end of the year and beyond is something everyone would like to know for sure
🗣 My opinion: not to raise the rate will mean a neutral-positive background for the $DOLLAR. Actually it means that for other currencies and gold it will be a negative background in the pair, thus we should expect lower prices. But let's wait for the figures to be released at 18:00 GMT
BUT, if not to pay attention to the fundamental part, but only to the technical analysis, but the dollar can form a correction to 104.37. And this level can decide the further fate. If it breaks, the dollar may go to 102.90 and test MA-200. But, if 104.37 pushes the price away, the dollar will return to 105.34 on the retest and may break the line with the subsequent growth to 107.9
By the way, MA-200 and MA-50 will form a signal soon
〰️〰️〰️
🟡 How do I join the VIP🔅
⚡ Join the VIP channel 🟢
〰️〰️〰️
💬 My Contact - Ask Linda✅️
💻 Web - RLinda.com ✅