Gear up for an engaging trading week starting on the 16th of September. With critical decisions from central banks on the horizon, your trading landscape could shift dramatically. Let’s dig into the specifics for each key instrument this week and find the optimal spots for your trades.
US Dollar Index (DXY)
You've watched the Dollar Index continue its descent, forming a pattern of lower highs and lower lows. With the Federal Reserve set to make crucial interest rate announcements, keep a close eye on the psychological 100 mark. This level could be a decisive point for DXY, potentially triggering volatility that would impact your strategy directly.
AUDJPY
AUDJPY has recently undergone a notable trend reversal, breaking below its long-term ascending trend line. This movement, coupled with bearish divergences on the MACD, suggests that the downtrend may intensify. This scenario offers you a strategic point for entering bearish positions, particularly as we approach significant psychological support levels.
GBPUSD
GBPUSD still shows resilience above its ascending trend line despite recent market turbulence. This bullish pattern could offer promising entry points during pullbacks. With potential rate decisions from the Bank of England, look for retests of key support levels that could reinforce the bullish outlook and provide lucrative opportunities for long positions.
Nasdaq
The Nasdaq recently compromised its intermediate bullish trend line, presenting a mix of uncertainties and opportunities. The resistance zone around 19625 to 19650 will be particularly pivotal. A successful break and hold above this level could signal a strong bullish resurgence, making it a critical juncture for your investment decisions.
XAUUSD (Gold)
Gold has been a fortress of strength, consistently holding above crucial trend lines. With ongoing dollar weakness and geopolitical tensions, gold might test the psychologically significant 2600 level soon. This could be an ideal time for you to consider pullback strategies, leveraging gold’s upward trajectory against broader market volatility.
This week is ripe with potential for strategic trading across a spectrum of instruments.
Staying updated and agile will be key to leveraging market movements in your favour.
Happy trading, and here’s to making this week exceptionally profitable for you!
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