If you have read the previous articles, you will know that we have gained a lot recently!
In the market of the moving average, it is now in a consolidation pattern. With the rise of MA120, a large ascending triangle pattern will emerge in the future, so we must prepare for a breakthrough in the future! !
According to CME's "Fed Watch", the probability of the Fed keeping interest rates unchanged in June is 99.2%, and the probability of raising interest rates by 25 basis points is 0.8%. The probability of the Fed keeping interest rates unchanged by August is 90.0%, the probability of a cumulative interest rate cut of 25 basis points is 9.2%, and the probability of a cumulative interest rate hike of 25 basis points is 0.7%. Federal Reserve Kashkari said that the Federal Reserve is expected to cut interest rates no more than twice in 2024.
Investors are waiting for the core personal consumption expenditure price index (PCE) released on Friday, which is the inflation indicator that the Federal Reserve prioritizes. The current investment market is relatively cautious, and bullish sentiment is suppressed to a certain extent
Daily level: The price of the currency consolidates after falling from the dizzying 70,000 mark. The sell-off caused the spot price to break below the main trend line, creating a more bearish technical environment for the price of the currency. It is currently in a short-term downward trend, and short positions are more favorable than long positions. Since May 21, the price of the currency has repeatedly stopped near 70,500! But it seems that the upper pressure is strong! This pullback may be a pattern pattern under the m double top. If so, you need to be careful about moving closer to the 30-day moving average during the day! At present, the 5-day and 10-day moving averages are converging, and the price of the currency falls below this position! It makes it more difficult for bulls! If you have buying actions, you should not look too far ahead. 💓 On the upside: Initial resistance is around the 5-day moving average of 69,000! Further resistance is around yesterday's high of 70,688. 💔 On the downside: Initial support is around the middle track of the Bollinger Band of 66,126! Further support is around the 30-day moving average of 64,907
