Good morning everyone, welcome to our new updates for this week. As you know, this week will be quite important. It will be all about the situation in the Middle East, especially around the Strait of Hormuz, and also central bank decisions. Trump is now trying to involve NATO to help open the Strait of Hormuz, which shows how serious the situation is, and that is one of the reasons why stocks are still struggling to recover. At the same time, the dollar remains very strong.
This week will be interesting because several central banks are on the schedule. It will not only be about the Fed, as we also have the ECB, the Bank of Canada and the RBA, which means different currencies could see their own moves depending on the decisions and guidance. So the trend on FX pairs this week will not be driven only by the Fed, but also by how other central banks position themselves.
However, the Dollar Index may already be approaching the later stages of a wave five advance of an extended wave three. It could see a retest the highs early in the week, but then possibly we get some pullback in the middle of the week, maybe from around the 100.80 to 101 area. I will talk about this and much more in our webinar.
GH
We have scheduled webinar upcoming today later before NY open, make sure you tune in
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