I marked this up a while ago, and it looks like it is still respecting structure made earlier ( June 2017 )
Price is currently at the 618 fib level where it has tested and got rejected over the last couple of weeks.
Next week is the interest rate decision, expectation is that the interest rate is not going be increased.
If they do increase, the US might fall into a recession, which could cause havoc at the DXY and stock markets ( fearing something is wrong with the economy )
I personally expect the Interest rate to be the same since the above scenario's is something they want to avoid. but it will cause DXY to be bearish in the first place.
Target for the DXY is 93.5 if bearish..
The FOMC statement will determine where DXY might be headed, by my expectation is that they will be negative about the economy where as DXY loses strength.
If DXY bearish:
XXX-USD Bullish
USD-XXX Bearish
Price is currently at the 618 fib level where it has tested and got rejected over the last couple of weeks.
Next week is the interest rate decision, expectation is that the interest rate is not going be increased.
If they do increase, the US might fall into a recession, which could cause havoc at the DXY and stock markets ( fearing something is wrong with the economy )
I personally expect the Interest rate to be the same since the above scenario's is something they want to avoid. but it will cause DXY to be bearish in the first place.
Target for the DXY is 93.5 if bearish..
The FOMC statement will determine where DXY might be headed, by my expectation is that they will be negative about the economy where as DXY loses strength.
If DXY bearish:
XXX-USD Bullish
USD-XXX Bearish
