GokBoru Hunter
The index opened with a pessimistic start in the negative direction. Since the last two trading days index lost around 45% ground from its last closing. The index has succeeded in breaking the 102.32 support level and reaching 102.00. I think the dollar's correction comes amid a recovery in the recovery of yields from the US. Additionally, the German bund yields also appeared to lack upward momentum. The Fed member E.George s said late Monday in a press conference that she expects the policy rate could be around 2% till august. The reason for this act by the Fed is to decrease the inflation rate according to the bank's goal of 2%. Therefore, the index has lost momentum since the Tuesday session at around 0.30% and facing correction support at 101.75. The break out of 101.75 is the next target for sellers to reach the second contention at 101.08 (50-day SMA). In the alternative scenario, the pullback may open the door to target the 105.00, which is the 2022 May 13 high. The climb over the 105.00 would help boost the positive trajectory to the final destination around the 106.00 level. Economic Colander overview At the time of writing the journal, some major forex released events regarding EUR and GBP. But some high-impact news is waiting to release in the US trading session. For USD Flash Manufacturing, PMI and NZD RBNZ Monetary Policy Statement would be the highlighted for readers. Russia's military action against Ukraine after 90 days would be highlighted for readers. Acco...
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