UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Oct. 20 @ 2:00 pm ET - Beige Book Report
* Tues. Oct. 26 @ 10:00 am ET - CB Consumer Confidence
* Fri. Oct. 29 @ 8:30 am ET - Core PCE Price Index m/m Data
* Wed. Nov. 3 @ 2:00 pm ET - FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Fri. Nov. 5 @ 8:30 am ET - Employment Data
* Tues. Nov. 9 @ 8:30 am ET - PPI m/m & Core PPI m/m Data
* Wed. Nov. 10 @ 8:30 am ET - CPI m/m & Core CPI m/m Data
* Fri. Nov. 12 @ 10:00 am ET - Prelim. UoM Consumer Sentiment
* Fri. Nov. 12 @ 10:00 am ET - Prelim. UoM Inflation Expectations
* Tues. Nov. 16 @ 8:30 am ET - Retail Sales & Core Retail Sales Data
* Wed. Nov. 24 @ 2:00 pm ET - FOMC Meeting Minutes
*** CLICK HERE for link to Economic Calendars for all upcoming events.
Tuesday, June 23, 2015
Re-test of 98 in Store for U.S. Dollar?
A re-test of 98 is not out of the realm of possibilities next and will be the first major resistance level that will need to be overcome to convince traders to pile in on this trade...assuming price breaks back (and holds) above the declining 50 MA around 96 immediately above today's (Tuesday's) close...coincidentally, there is a confluence of major resistance at the 96 level -- formed by a Fibonacci fanline and mid-Bollinger Band intersect -- as shown on the next Weekly chart of the U.S. $ Futures Index. Watch for the RSI to stay above the 50 level (on the cash index) to confirm such a rally...as well, we'll need to see a higher high on the RSI at the 98 price level as a sign of bull conviction for any sustainable move higher.