How to Trade the US Dollar Ahead of FOMC Minutes

The USD is down throughout the board with US yeilds, whereas shares are buying and selling larger, however immediately we’ll bought a launch of the FOMC minutes, so its a delayed data from November 1st, which means that immediately’s launch of the minutes can remind us that 2% inflation goal remains to be far-off, so this will presumably set off some aid rally of the DXY. That mentioned, we might even see some pullback that may permit us to be quick {dollars} from higher ranges. Trying on the Elliott wave construction, I certainly wouldn’t be stunned to see wave 4 right here, if present hourly trendline assist is damaged. US yields have 5 down as nicely. Additionally, I see SP500 transferring into some robust resistance space, the place pullback down may cause some rally for USD too. Lets not neglect to say some shares revenue taking forward of Thanksgiving holidays.

Grega