Further to my post below, I've shown what could happen on the Daily chart of the TF (see below) under an extreme bearish move if a larger Head & Shoulders pattern completes up until the last FOMC meeting this year on December 13...theoretically, price on the TF could descend to around 678...or the infamous 666 level by then. Will those investors who are still long be saved from receiving only a "lump of coal" in their stockings for Xmas?
Which reminds me, I'm wondering how Greece will grow its economy and increase household spending since it will have to tax its citizens heavily to pay for its debt burden...is 1.33 in the cards for the EUR/USD before Xmas?...(My friend mentioned the other the day that her family had Greek takeaway for dinner...this has a new meaning to me now!)
And, conversely, will the US$ see 80.00 before Xmas?...
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...please read my full Disclaimer at this link.
* If the dots don't connect, gather more dots until they do...or, just follow the $$$...
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Sept. 20 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Fri. Oct. 6 @ 8:30 am ET - Employment Data
* Wed. Oct. 11, 2023 @ 2:00 pm ET - FOMC Meeting Minutes
* Wed. Oct. 18 @ 2:00 pm ET - Beige Book Report
* Wed. Nov. 1 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Wed. Dec. 13 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
*** CLICK HERE for link to Economic Calendars for all upcoming events.