The index is trending higher after taking support at the 0.618 fib level (drawn on the daily TF), and is currently trending near 98.55.
The prices are facing a hurdle at the 20 EMA, above which there's a clear journey towards fib level 0.50 (98.85)
Breaching the immediate resistance would lead the prices to test our far targets near 99.10
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Today's PPI data might support our projections if it comes above expectations
PPI REPORTS WILL BE RELEASED TODAY AT 8:30 AM ET!
Previous: 4.7% Forecast: 5.3%
* IF PPI INFLATION > 5.3% → MARKETS CRASH HARD
* IF PPI INFLATION < 5.3% → MARKETS RALLY HARD
* IF PPI INFLATION = 5.3% → EXPECT A MIXED REACTION
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Today's PPI will become a reference for tomorrow's CPI
Apart from PPI, the data scheduled to be released from the US docket includes
- Initial & Continuing Jobless Claims - a minor improvement is expected
- Existing Home Sales (Aug) - a weakening is expected (housing is a crucial industry in the US economy)
The prices are facing a hurdle at the 20 EMA, above which there's a clear journey towards fib level 0.50 (98.85)
Breaching the immediate resistance would lead the prices to test our far targets near 99.10
----------------------------------------------------------------
Today's PPI data might support our projections if it comes above expectations
PPI REPORTS WILL BE RELEASED TODAY AT 8:30 AM ET!
Previous: 4.7% Forecast: 5.3%
* IF PPI INFLATION > 5.3% → MARKETS CRASH HARD
* IF PPI INFLATION < 5.3% → MARKETS RALLY HARD
* IF PPI INFLATION = 5.3% → EXPECT A MIXED REACTION
-----------------------------------------------------------------------
Today's PPI will become a reference for tomorrow's CPI
Apart from PPI, the data scheduled to be released from the US docket includes
- Initial & Continuing Jobless Claims - a minor improvement is expected
- Existing Home Sales (Aug) - a weakening is expected (housing is a crucial industry in the US economy)
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.