There is a very low chance of a rate hike for the upcoming meeting and there has been very little chance of a rate hike for like the last 5 upcoming meetings. I am personally not speculating about the outcome of this meeting because 10YT Bond rate is at the brink of breaking its floor at 1.7% and reaching new all time lows. For me if there was a time to hike rates it would be now, but of course the FED does what the FED wants so I can't use logic.
Has everyone forgot about Brexit?? Well I have as I have been overwhelmed by the Dollar bear shilling ("DXY to 91!") to realize how important of an event Brexit is in terms of EUR instability and volatility. I believe the dollar is bullish once again and I see no reason why there should be a break of 90 in the coming months - either technically or fundamentally (i may be very wrong).
Everyone should remember that the dollar has had a very bullish run up with a severe overextension and that all of the crosspairs have had a retrace from dollar highs but are still in a longer term bearish cycle.
Possible test of important stop loss level around 1.145 - 1.147 - other scenario is straight down into the abyss. Expecting some ranging between supply/demand zones shown. To conclude these prices will be discount levels in hindsight in about 10 days
Has everyone forgot about Brexit?? Well I have as I have been overwhelmed by the Dollar bear shilling ("DXY to 91!") to realize how important of an event Brexit is in terms of EUR instability and volatility. I believe the dollar is bullish once again and I see no reason why there should be a break of 90 in the coming months - either technically or fundamentally (i may be very wrong).
Everyone should remember that the dollar has had a very bullish run up with a severe overextension and that all of the crosspairs have had a retrace from dollar highs but are still in a longer term bearish cycle.
Possible test of important stop loss level around 1.145 - 1.147 - other scenario is straight down into the abyss. Expecting some ranging between supply/demand zones shown. To conclude these prices will be discount levels in hindsight in about 10 days
