Other than China's GDP report on Friday; the main highlights would be both the European & US Consumer Price and the US University of Michigan's Confidence figures for April. Which maybe expected to be within expectations and friendly to the US Dollar continuation for a recovery. Although, analyst would not undermine the lack of a follow through from the confidence after a few consecutive positive numbers from the previous months. A significant number would be the catalyst that would trigger a rally back higher for the US Dollar Index.
The behavioral pattern has been identified with daily lows couple with lackluster trading before a wide price fluctuation would occur between the last two trading days for the past weeks. The price swings from high to low of the USDx is forming within a symmetrical triangle prior to a break upwards. The two trading weeks of April is a make or break cycle pattern mostly known for by experienced traders especially in the financial futures 3 months forward market correlated with the Forex Spot market movements. A deeper due diligence should be considered as market weighs influential to both markets whenever trading the Foreign Currency market. Please follow: On the Technicals perspective at http://megatrade101.com/
No comments:
Post a Comment