As we can appreciate the price is in the lower part of the channel area next week US-China deal is going to be decisive the break of this area.
What to take on considerations:
In the fundamental side: The US-China trade deal had get cold, with no deal yet the price makes huge movement to upside. The friday lower than expected CPI report hadn´t be relevant to the market apparently but the odds to a cut rates are increasing according CME fedwatch tool, on friday the chance were higher to a cut rate at the year end to keep it unchanged. For the coming week the market will still tracking the situation on the negotiation.
In the technical side: The price is in the lower part of the channel, the price already formed the AB of the flat extended retracement ABC. If it breaks the C could be rounded in the area of the 38.2 and 50 fibo retracement of the previous trend.
ources:
cnbc.com/2019/05/10/what-to-...
cmegroup.com/trading/interes...
What to take on considerations:
In the fundamental side: The US-China trade deal had get cold, with no deal yet the price makes huge movement to upside. The friday lower than expected CPI report hadn´t be relevant to the market apparently but the odds to a cut rates are increasing according CME fedwatch tool, on friday the chance were higher to a cut rate at the year end to keep it unchanged. For the coming week the market will still tracking the situation on the negotiation.
In the technical side: The price is in the lower part of the channel, the price already formed the AB of the flat extended retracement ABC. If it breaks the C could be rounded in the area of the 38.2 and 50 fibo retracement of the previous trend.
ources:
cnbc.com/2019/05/10/what-to-...
cmegroup.com/trading/interes...
Publications connexes
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Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.