EURUSD GBPUSD Potential Daily Long DXY Short
Today the results of the US GDP (QoQ) (Q2) were released stating: Actual: -0.6% Forecast: -0.8% Previous: -0.9%
The results were slightly bullish though economists believe that this is still well under inflation numbers and that the economy is doing better. Still investors and banks are worried that Powell may raise rates at the end of September. Tomorrow Powell will speak at Jackson Hole and the market will be listening for any hints about what he may do next month regarding rates. Currently the DXY has given a daily short signal along with long signals for EURUSD and GBPUSD. These potential signals may be a good opportunity to get into the market, but it may be a slow raise or decline, the market is also waiting for what Powell's speech may bring.
The DXY is at high levels as mentioned yesterday in my article regarding the DXY daily short read that one if you missed it.
The EURUSD pair is having strong daily convergence indicating bullishness. The same can be said for GBPUSD. EURUSD could reach 1.02 while GBPUSD could reach 1.20, though this depends also on what Powell might say regarding rate hikes.$EUR/USD $GBP/USD
Ilyas Khan Top1 Markets
The results were slightly bullish though economists believe that this is still well under inflation numbers and that the economy is doing better. Still investors and banks are worried that Powell may raise rates at the end of September. Tomorrow Powell will speak at Jackson Hole and the market will be listening for any hints about what he may do next month regarding rates. Currently the DXY has given a daily short signal along with long signals for EURUSD and GBPUSD. These potential signals may be a good opportunity to get into the market, but it may be a slow raise or decline, the market is also waiting for what Powell's speech may bring.
The DXY is at high levels as mentioned yesterday in my article regarding the DXY daily short read that one if you missed it.
The EURUSD pair is having strong daily convergence indicating bullishness. The same can be said for GBPUSD. EURUSD could reach 1.02 while GBPUSD could reach 1.20, though this depends also on what Powell might say regarding rate hikes.$EUR/USD $GBP/USD
Ilyas Khan Top1 Markets