Can we see more bearish movement ??
After poor results from the CPI, PPI and Initial jobless claims report, markets have not been able to show any bullish signs last week
US30 - As we can see, price came back to retest the zone above 39028.55 (which was the previous weeks high) and broke 4h structures to the downside first at 38441.93. My ultimate target will be the 37212.17 area. The weeks candle still opened and closed with the previous weeks candle (Jun 3), so I will be anticipating a strong move
GER40 - The DAX has been bearish consecutively for 5 weeks in a row, showing a very strong bearish weekly candle last week. I will like to see price take the previous months low and head towards 17401.6
Ultimately, I will be looking for more bearish momentum and also price to take each previous week low. The economic calendar seem to be packed for Thursday. Retail sales on Wednesday will be a good indicator to see how the affect of interest rates have affected the US economy and if they will need to adjust the rates sooner than later
US30 - As we can see, price came back to retest the zone above 39028.55 (which was the previous weeks high) and broke 4h structures to the downside first at 38441.93. My ultimate target will be the 37212.17 area. The weeks candle still opened and closed with the previous weeks candle (Jun 3), so I will be anticipating a strong move
GER40 - The DAX has been bearish consecutively for 5 weeks in a row, showing a very strong bearish weekly candle last week. I will like to see price take the previous months low and head towards 17401.6
Ultimately, I will be looking for more bearish momentum and also price to take each previous week low. The economic calendar seem to be packed for Thursday. Retail sales on Wednesday will be a good indicator to see how the affect of interest rates have affected the US economy and if they will need to adjust the rates sooner than later
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