The pair is ready to grow. I expect growth at the British session and possibly at the American session to the level of 1.17340. Last week the pair was ready for growth, but fundamental data put pressure on the slightest growth attempts. let’s see what happens this week, but I’m more inclined to a bullish scenario.
We are going on south after FOMC. Previus forecast came true, we went a little bit up and now pair will go down as I told in previus post. Because of opposite direction. Let’s see.
The day of publication of the interest rate is always accompanied by multidirectional movements. As a rule, the price very often moves in the opposite direction and then rebounds and retraces after the publication. On this day, forecasts are always very vague, and indeed, no one can know what decision will be made, whether there will be surprises, etc.
But, nevertheless, there are certain patterns. For example, I recommend not to open positions in the market with a neutral movement, you need to wait for the price to start moving in a certain direction. If the market is uncertain, then we will see sharp up and sharp down movements. If any rumors start to prevail on the market, for example, it is not necessary that the rate will be raised or lowered, perhaps something is connected with the economic forecasts of the FOMC, etc., then we will see a change in the movement from neutral to one side, up or down.
So my forecast for today: as usual, the market will start moving on rumors, at the last minute before the publication of the protocol, the movement will continue after publishing in the opposite direction.
Perhaps this type of forecast will seem strange to you, but this is due to my many years of observations and I consider it much more accurate than just guessing up or down. Therefore, on this day, I recommend closing positions and not opening deals at all. But for those who want to take risks or test a strategy, try to do as I wrote, at the last minute before publishing the interest rate, open a position against the movement of the pair for the entire duration of the American session.
The forecast came true. Next I think will be neutral movement. After few hours I will publish new forecast. Subscribe.
I expect growth before and after the American session. Pair has all chances to recovery to 1.18 this week.