Elliott Wave Live: Bitcoin Is At Support As DXY Trades Into Resistance
Sep 19, 2023

VIDEO

In our free elliott wave webinar you can check some of interesting analysis with important key points below.

Best regards,
Grega

Some important market key points:

Federal Reserve (Fed) and the USD

  • The Fed is expected to maintain its current interest rate of 5.5% with no changes anticipated.
  • The Fed will likely focus on economic data and forecasts rather than increasing rates.
  • Even if the Fed adopts a hawkish stance, market reactions may still be influenced by the “buy the rumor, sell the news” phenomenon.
  • The U.S. Dollar Index (DXY) has increased by 6% from its summer lows, partly driven by higher energy prices, which could support a hawkish Fed stance.
  • Higher energy prices can lead to higher inflation, which, in turn, can drive up yields and the value of the USD.

EURUSD and the ECB

  • The European Central Bank (ECB) has raised rates to 4.5%, and CPI is at 5.3%
  • Market outlook for EUR/USD appears to be flat or ongoing an a-b-c pattern.

GBPUSD and the BOE

  • The Bank of England (BoE) is expected to increase rates from 5.25% to 5.5% on September 21.
  • CPI is expected to rise to 7.1% on September 20.

USD/JPY:

  • No significant shifts are expected from the Bank of Japan (BoJ) meeting.
  • BoJ plans for a quiet exit from yield curve control and intervention if USD/JPY nears 150.

AUD/USD + USD/CNH:

  • The Reserve Bank of Australia (RBA) may release meeting minutes, having kept rates on hold for the last three meetings.
  • China’s still with economic issues makes aussie weak.

USD/CAD

  • CAD is gaining strength due to persistent inflation concerns. 2.8% was reported in July, then up to 3.3% reported in August, and now expectations are 3.8%. So inflation is still here, that’s why CAD is showing some strength I believe, for the last week or so.

Become a member

Get daily Elliott Wave updates for some major Digital currencies, FIAT currency markets, major stock indexes, gold, silver, crude etc. or apply for unlimited access to the Elliot Wave educational videos.

EURCAD And GBPCAD Update: Pairs Are Coming Lower Within Projected Higher Degree Corrections CLICK HERE

DISCLAIMER

Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close