It's not mystical nor magical but sheer research, we stated until 14th it has exactly taken u turn to show bounces.
Apart from the Fed meeting the main movers this week will be US CPI (Tuesday), German ZEW (Tuesday), Euro Flash PMI (Wednesday) and German Ifo (Thursday).
Technical glimpse: USD/JPY
Shorting Dollar this week is absolutely absurdity – USD/JPY on the verge of forming “Dragon fly” targets above 121.560. At present, the pair gives the candle resembling dragon fly pattern which is a bullish indicator.
It has tested supports at 120.60 levels to day as well as on Friday.
An attempt of %K crossover below oversold zone makes bulls alert at an early stage of reversal in this week.
The first ever Fed's rate hike move since 2008, it will now want to prudently harmonize market prospects with their own projections.
Eventually, we will suggest not to go short on dollar this week no matter what.
Komen
moorekapital
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" Shorting Dollar this week is absolutely absurdity" very hash one, man! ')
FxWirePro
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Hahah..I understand, but I intend the dollar's strength, thats it.. how about trying this "Dont short dollar ahead Fed" exclusively for you.. cheerss...