Technical
DXY Broke a Daily resistance area at 102,253 and also broke Daily Resistance line at 102,253 indicating a change in structure from Bearish to Bullish.
We can start looking for possible long entries from the retest of the H4 trenline @ 102,732 ,Retest of the H4 Support Area @ 102,333 and if we get more downward pressure from the bears we should look for possible long entries @ 102,107
Fundamental
All the data for Dec Came out Positive, Higher than Forecast.
1.NFP(Labour Market was higher than forecast indicating a stronger labour market )
2.CPI(Inflation was higher than forecast indicating a Stubborness in US inflation Which is more likely to Prompt the FED to put brakes on rate cuts and keep rates elevated for some time) 3.Retail Sales (Sales for Dec was higher than forecast due to Impulsive buy from Poeple Pushing inflation even much higher )
4.Initial Jobless Claims ( Number of Poeple who were filing for unemployment was higher than forecast expected indicating a stronger labour Market)
5.More Data is due to Come this Week traders will be watching the PMI Numbers,GDP and Core PcE One of the most preferred indicator for the FED.
Rates cuts are still Anticipated by the Market,Yet though the data is coming out Positive We are still expecting the Fed to cut the rates by 0,75% this Year ,With the 1st cut expected on March Meeting
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DXY Broke a Daily resistance area at 102,253 and also broke Daily Resistance line at 102,253 indicating a change in structure from Bearish to Bullish.
We can start looking for possible long entries from the retest of the H4 trenline @ 102,732 ,Retest of the H4 Support Area @ 102,333 and if we get more downward pressure from the bears we should look for possible long entries @ 102,107
Fundamental
All the data for Dec Came out Positive, Higher than Forecast.
1.NFP(Labour Market was higher than forecast indicating a stronger labour market )
2.CPI(Inflation was higher than forecast indicating a Stubborness in US inflation Which is more likely to Prompt the FED to put brakes on rate cuts and keep rates elevated for some time) 3.Retail Sales (Sales for Dec was higher than forecast due to Impulsive buy from Poeple Pushing inflation even much higher )
4.Initial Jobless Claims ( Number of Poeple who were filing for unemployment was higher than forecast expected indicating a stronger labour Market)
5.More Data is due to Come this Week traders will be watching the PMI Numbers,GDP and Core PcE One of the most preferred indicator for the FED.
Rates cuts are still Anticipated by the Market,Yet though the data is coming out Positive We are still expecting the Fed to cut the rates by 0,75% this Year ,With the 1st cut expected on March Meeting
For More Content
Support the idea
Follow the Channel For More
Thank You For Your Support