Fundamental Commentary:
Wednesday's meeting by the FED has proved true that the FED is making a new monetary policy shift to normalize sooner than later, to reducing the size of the balance sheet; and, this action that will send yields higher . This has brought strength into the USD. Thus, USD with strength being signaled, I a positive the USD in the medium-term for another quarter or two.
Technical Commentary:
Fib resistance
Middle of Pitchfork
Horizonal resistance
Trapped traders may bail out at 0.7600
Still the beginning of Wave 3
A pullback is developing; hopefully, into the resistance area, where I will short.
Wednesday's meeting by the FED has proved true that the FED is making a new monetary policy shift to normalize sooner than later, to reducing the size of the balance sheet; and, this action that will send yields higher . This has brought strength into the USD. Thus, USD with strength being signaled, I a positive the USD in the medium-term for another quarter or two.
Technical Commentary:
Fib resistance
Middle of Pitchfork
Horizonal resistance
Trapped traders may bail out at 0.7600
Still the beginning of Wave 3
A pullback is developing; hopefully, into the resistance area, where I will short.
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.