Offered by IFC Markets
Markets usually are not transferring a lot. They slowed down after some greenback weak point over the past two buying and selling days. We see US shares coming down from resistance forward of Powell immediately, so it seems that traders are ready on extra particulars earlier than they could place themselves for a course of a breakout. Will Powell be hawkish or extra neutural with feedback is an actual query. I feel he might not give us any actual bias but, forward of US CPI information this Thursday. From an Elliott wave perspective we see USD in bearish mode, with room for extra weak point, however probably after a rally on DXY. Resistance is at 103.60.
