Slight rebound so far this month for the dollar index and all eyes are on the US inflation data tomorrow 1.30gmt. Fed interest rates futures (green line) held a strong correlation with the dollar late last year. Will the inflation data recouple the two?
Top side was capped by the 50% retrace (9/1 -> 25/1) and now the downside is testing the 50% retrace of the small bounce higher.
Push to the upside will look to retarget that 50% retrace and slope off the right shoulder.
Downside move will target previous lows & 61.8% retrace (May 2014 -> January 2017)
30 min chart:
Top side was capped by the 50% retrace (9/1 -> 25/1) and now the downside is testing the 50% retrace of the small bounce higher.
Push to the upside will look to retarget that 50% retrace and slope off the right shoulder.
Downside move will target previous lows & 61.8% retrace (May 2014 -> January 2017)
30 min chart:
Commentaire:
Higher readings than expected, but looks like decoupling between the $ and fed interest rate futures will intensify
Commentaire:
