During yesterday's trading session, the US dollar was down against the basket of major currencies. Given that on Wednesday night the Fed will hold a meeting in which the decision to raise the interest rate will be published, investors suspended the sale of the dollar.
Today the publication of data on the German economy will take place. After the publication of the consumer sentiment index we will be able to understand where our pair will go during the day. The indicators released at the moment were lower than expected.
Therefore, considering that the probability of raising the Fed's interest rate by 0.25% is over 80%, we can count on a short-term strengthening of the greenback. So now is a good time to enter the short positions.
Today the publication of data on the German economy will take place. After the publication of the consumer sentiment index we will be able to understand where our pair will go during the day. The indicators released at the moment were lower than expected.
Therefore, considering that the probability of raising the Fed's interest rate by 0.25% is over 80%, we can count on a short-term strengthening of the greenback. So now is a good time to enter the short positions.