EURUSD, Gold, and DAX Analysis Pre FOMC
Could we see new continuations on the EURUSD, GOLD, and DAX?
Continuing on from Monday’s Ethereum analysis, we are still reviewing the double CCI continuation idea. The method uses two CCI indicators, one fast and one slow. The Moving average also plays a part, and we want to see the slope showing a trend.
Today we have identified three markets filling the criteria we are looking for: the EURUSD, GOLD, and the GER30. From this point, we need to see confirmation that will be a break of yesterday’s high. If this occurs, we will be looking for price to continue to move higher, forming continuations. We have outlined these details in today’s video analysis.
The only potential wildcard to the current price picture is tomorrow morning’s FOMC meeting. The Fed is expected to raise rates by 25 pts, but the focus will be on the statement and if the central bank will continue to lean to a more dovish tone. Inflation is another factor, and traders will be looking for comment regarding how the Fed currently see US inflation and their thoughts on it in the future.
If things remain positive, we will look for risk markets to continue higher, but if we see any hawkish shocks, this could hit risk assets and boost the USD. The FOMC meeting will be held at 6:00 am AEDT Thursday morning.
Market Analysis Video