Weekly report: The asteroid pattern (The Big Short signal)
Last week the price volatility was huge, in the weekly candle the high touched the upper part of the channel and close in the lower part, forming an asteroid pattern (a shooting star in japanese candlestick language)
What to take on considerations:
In the fundamental side:
On wednesday the Fed cut the interest rate as the market expected, but the tone that Powell used referring for future interest rate cut the wings of the stock market and produce that the price of the DXY start to move further up. But on thrusday, Donald Trump made it once again, his promised of no more hikes on tarifs with China was forgotten and put on the trade war more ammunition, 300Billions with "B" on chinesse good, rising the risk for a global reccession with almost 1000Billions on tariffs in the global commerce, so this will impact consideraly in the September Fed Meeting for a possible another cut rate according the fed watchtool of CME, which one show us the odds had increase from 56% to 83%.
In the technical side:
The price end the week with an indecisive pattern in the weekly time frame, in the daily frame we keep holding the sames levels where the price is going to retrace.
What to take on considerations:
In the fundamental side:
On wednesday the Fed cut the interest rate as the market expected, but the tone that Powell used referring for future interest rate cut the wings of the stock market and produce that the price of the DXY start to move further up. But on thrusday, Donald Trump made it once again, his promised of no more hikes on tarifs with China was forgotten and put on the trade war more ammunition, 300Billions with "B" on chinesse good, rising the risk for a global reccession with almost 1000Billions on tariffs in the global commerce, so this will impact consideraly in the September Fed Meeting for a possible another cut rate according the fed watchtool of CME, which one show us the odds had increase from 56% to 83%.
In the technical side:
The price end the week with an indecisive pattern in the weekly time frame, in the daily frame we keep holding the sames levels where the price is going to retrace.
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כתב ויתור
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