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It is Fed week and that is going so as to add an enormous dose of volatility on Wednesday. If that is not sufficient than Thursday’s advance take a look at Q2 GDP is more likely to put the US right into a technical recession.
My associate Greg Michalowski has an exquisite preview on the technical setup within the foreign exchange market this week. He takes a take a look at some calls, like SocGen saying the euro is ‘nonetheless unbuyable’ and the way it seems on the chart after “purchaser’s had their shot” at a rally following the ECB.
If you wish to hear USD/JPY technical evaluation, skip to the 9:00 mark. Greg notes that the 135.16 degree is necessary historic resistance and now help.
He talks about GBP/USD on the 13:57 mark. Cable is up 63 pips right now however it’s had a tough journey for the previous yr.
USD/CHF begins at 17:54 and the large double high and Friday’s sharp decline are notable however we hit the 100-day shifting common and have bounced off that right now. It is an attention-grabbing technical chart.
Greg did a USD/CAD video on Friday however provides to it at 20:25, noting the head-and-shoulders sample on the chart.
AUD/USD begins at 22:40 and notes a key trendline that is being examined whereas NZD/USD is at 24:15.
Within the lead as much as the Fed resolution there will likely be loads of chopping round so the degrees Greg highlights will definitely be in play. Watch it right here:
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