This morning I woke up to this. As of 08:20 EST, the descending trend-line drawn from the September 6, 2013 highs has been violated in force with this daily candle. If the data this morning continues in favor of the USD, the next theoretical supply zone is 0.9180 where I have drawn the horizontal red line. I am still long for the time being and watching data and price into the close today. Looking back, the most recent FOMC meeting gave the dollar a shot in the arm. On the other side of this trade, the pair may fall due to profit taking, and the next 2 hours or so are key. Data for USD today:
Actual Consensus Prev
| 08:58 |
USD |
|
Manufacturing PMI |
51.8 |
51.1 51.1 |
|
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| 09:10 |
USD |
|
FOMC Member Bullard Speaks |
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| 10:00 |
USD |
|
ISM Manufacturing Index |
|
55.0 56.2 |
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| 10:00 |
USD |
|
ISM Manufacturing Prices |
|
55.0 56.5 |
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| 10:30 |
USD |
|
ECRI Weekly Annualized (WoW) |
|
2.0% |
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| 17:00 |
USD |
|
All Car Sales |
|
7.53M |
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| 17:00 |
USD |
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Domestic Car Sales |
|
5.30M 5.24M |
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| 17:00 |
USD |
|
Total Vehicle Sales |
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15.40M 15.21M |
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