upcoming weekly outlook for the trading week of jan 9th - 14th
market sentiment can potentially shift with future prediction of Interest Rate hikes in march (80%) from FOMC meeting minutes which caused bulls in Dollar and bears in Gold / US30 however something to be mindful is the profit taking on US30 came from peaking new highs which is normal and still holding bullish ms to see how investors will digest this information is to keep an eye out for Economic Data but more importantly comments from Jerome Powell and fed speakers. Economic Data across the board is healthy regarding PMI, Employment, jobless claims when looking at it from a macro perspective.
Trade ideas as follows will looking to see how the upcoming week will play out as Dollar closed a weak bullish candle rejection from highs back at its demand zone at 95.5 price level if we break this level, I will look for gold buys and vice versa if Dollar breaks its highs.
market sentiment can potentially shift with future prediction of Interest Rate hikes in march (80%) from FOMC meeting minutes which caused bulls in Dollar and bears in Gold / US30 however something to be mindful is the profit taking on US30 came from peaking new highs which is normal and still holding bullish ms to see how investors will digest this information is to keep an eye out for Economic Data but more importantly comments from Jerome Powell and fed speakers. Economic Data across the board is healthy regarding PMI, Employment, jobless claims when looking at it from a macro perspective.
Trade ideas as follows will looking to see how the upcoming week will play out as Dollar closed a weak bullish candle rejection from highs back at its demand zone at 95.5 price level if we break this level, I will look for gold buys and vice versa if Dollar breaks its highs.