Weekly outlook: always Short nevert Inshort.
The price broke nicely the above drawn channel, right now we must just keep in mind to short entries in the currency.
What to take on considerations:
In the fundamental side:
The Fed recognize finally that the economy is getting slow down, so Powell said that the case for easier monetary policy had strengthened. He is considering to cut the Fed rates in 2020 according the FOMC minutes, but the market see at least a cut rate of 25pb in 19/7/2019 meeting. Meanwhile the 10 years treasury bond yield drop below 2% at 19/6/2019, in this way the market pricing the cut rate in a 100% probabilities. The stock market right now is waiting for the G20 summit in order to see whats words are going to use Trump and Xi about the trade war, this meeting is on friday.
In the technical side:
The price had made an strong downside movement after break the lower part of the drawn channel. For this week we can expect a consolidation or a retracement process because the uncertain will be generated about the Trump and Xi words about the trade war. So this is the chance to consider to close the short position opened and start to look for a new price action setup to entry again in the downside direction.
What to take on considerations:
In the fundamental side:
The Fed recognize finally that the economy is getting slow down, so Powell said that the case for easier monetary policy had strengthened. He is considering to cut the Fed rates in 2020 according the FOMC minutes, but the market see at least a cut rate of 25pb in 19/7/2019 meeting. Meanwhile the 10 years treasury bond yield drop below 2% at 19/6/2019, in this way the market pricing the cut rate in a 100% probabilities. The stock market right now is waiting for the G20 summit in order to see whats words are going to use Trump and Xi about the trade war, this meeting is on friday.
In the technical side:
The price had made an strong downside movement after break the lower part of the drawn channel. For this week we can expect a consolidation or a retracement process because the uncertain will be generated about the Trump and Xi words about the trade war. So this is the chance to consider to close the short position opened and start to look for a new price action setup to entry again in the downside direction.
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