DXY Macro View 26/01 - Bend or Break?
Past week, existing home sales in US fell 6.4%. CB Leading Index dropped 0.1%.
Next week, the Fed will hold it’s 2-day meeting and statement will be released on Thursday. Friday NFP are forecasting a drop from 312k to 165k.
DXY last week seems been picking up after it broke off 96.00 levels. It continues up to about 96.70 levels before having a strong bear down of 0.92% drop. We have to look forward to next week momentum again to watch out if is a bend or break. Overall suggestion upcoming week might see a side way movement between 96.50 and 95.50 levels progression.
Indicators:
Parabolic SAR – Bearish
MACD – Bearish
Stochastic – Oversold
Overall - 3/3 - Bearish
Disclaimer:
Any opinions, news, research, analyses, prices or other information contained in this content is provided as general market commentary and does not constitute investment advice. ForexBriefcase will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Next week, the Fed will hold it’s 2-day meeting and statement will be released on Thursday. Friday NFP are forecasting a drop from 312k to 165k.
DXY last week seems been picking up after it broke off 96.00 levels. It continues up to about 96.70 levels before having a strong bear down of 0.92% drop. We have to look forward to next week momentum again to watch out if is a bend or break. Overall suggestion upcoming week might see a side way movement between 96.50 and 95.50 levels progression.
Indicators:
Parabolic SAR – Bearish
MACD – Bearish
Stochastic – Oversold
Overall - 3/3 - Bearish
Disclaimer:
Any opinions, news, research, analyses, prices or other information contained in this content is provided as general market commentary and does not constitute investment advice. ForexBriefcase will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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