Weekly Outlook 11 Mar 17

Rate hike is coming and market is USD bullish, bidding dips to the point of no return. Until rate decision, it is very likely that usd will gain traction again. Best pairs to trade against are currently Aud and Nzd as carry traders lost their will at the time being.

USDX

2017-03-11_USDX

The us index was well bid from support and is likely to continue its skirmish further and take the battle to the bears home turf (resistance).

AUDUSD

2017-03-11_AUDUSD

Downside is wide open and a continuation from 4h IB is an invitation to push on. However should bulls gain ground on the back of Fridays profit taking. Supply zone will hold off any remaining bidder.

EURGBP

2017-03-11_EURGBP

Sterling is tiring under renewed pressure, Scottish referendum,no BOE action,article 50 carry on, to name a few. While euro is shining like never before. This pair is heading towards 0.8850 and there is little in the way of stopping it rip higher.

This week could be the final battle for a lot of mid term bulls and bears alike, always remember:

”RISK HAPPENS FAST”

Miad Kasravi

 

Miad

View posts by Miad
Currency&Commodity Trader

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