Price action this week was dominated by better than expected CPI numbers. And we sure have another volatile week ahead of us.
Sept 21: FOMC Rate decision
Sept 22: Mr. Draghi speaking
My guess is that FOMC will not raise rate for now. However they will be passing the message to the markets a rate hike is to be expected in December. Such an hawkish message could put more pressure on EURUSD in the short term.
My Playbook for the week ahead:
--------------------------------------------
I will not take on any position in EURUSD until market direction is clear. Daily chart is indicating a possible long if the triangle is not being broken. However, due to the high impact news , I will not solely rely on technicals.
Sept 21: FOMC Rate decision
Sept 22: Mr. Draghi speaking
My guess is that FOMC will not raise rate for now. However they will be passing the message to the markets a rate hike is to be expected in December. Such an hawkish message could put more pressure on EURUSD in the short term.
My Playbook for the week ahead:
--------------------------------------------
I will not take on any position in EURUSD until market direction is clear. Daily chart is indicating a possible long if the triangle is not being broken. However, due to the high impact news , I will not solely rely on technicals.