Reversal momentum on progress
Currently this pair displayed a reverse Head and shoulder pattern, a reversal structure with small pressure, the outlook is tempting buyers to place their orders with appropriate risk management, onlooking at the sentiments of the week retailers are 65% base on shorts position.
Furthermore, the Feds have provided insight on a proposed rate-cut during the month of September which will be implemented initially, then a next phase cut will follows integrally with reduced bps ratio. Additionally, both institutions and retailers orders will be affected by the rate-cut.
Finally, this week was a really slow week both in terms of momentum and news impact, let's hope next week will be more spicy in terms of volatility.
Furthermore, the Feds have provided insight on a proposed rate-cut during the month of September which will be implemented initially, then a next phase cut will follows integrally with reduced bps ratio. Additionally, both institutions and retailers orders will be affected by the rate-cut.
Finally, this week was a really slow week both in terms of momentum and news impact, let's hope next week will be more spicy in terms of volatility.
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