FOMC Press Conference is right around the corner and the outcome is being watched by traders all over with much interest.
Dollar Index (DXY) is showing a Triple Three Pattern which would mean that USD could get trashed once more, just as it did on my previously posted "FED December Rate Hike – DXY Technicals – Elliott Wave Analysis" article when I said that the FED would increase the rates but expecting a Bearish trend.
Now the Market is in a similar spot and it looks like the USD is positioning once more.
My 2 cents on the event:
Rate Hike to occur from 1.50% towards 1.75% benchmark points, making the USD Bullish until the Press Conference Jerome Powell not to signal more than 3 Rate Hikes this year, making the USD Bearish and forcing traders to trash the dollar
*Entries and scenarios available for our Members.
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Technical Outlook and Verdict:
XAU/USD - Bearish on the Rate Hike but Bullish on the Press Conference XAG/USD - Bearish on the Rate Hike but Bullish on the Press Conference EUR/USD - Bearish on the Rate Hike but Bullish on the Press Conference USD/JPY - Bullish on the Rate Hike but Bearish on the Press Conference USD/CHF- Bullish on the Rate Hike but Bearish on the Press Conference
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I absolutely smashed this FOMC event!
In fact I managed to predict all previous three FED meetings, call me "hat-trick". :)
please find attached chart this is possible up leg ------i always regards you view appreciate your work ---but this is possible upmove
because all wave iv/4/(4) are complex not simple
abbas
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the possible move of all the pairs will shift 2-3 dollar
ZubrMoldova
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Good afternoon. What plans do you have for the dollar index? If it is possible more in detail
Lionheart-EWA
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@ZubrMoldova, Good afternoon. Will maintain the bearish outlook so far and there is a Major Bullish Reversal possibly happening soon. More details are given for members.