2022-09-07 • Updated
All eyes seem to be on the US Dollar as traders await the Federal Reserve Chair's speech this Thursday. Mr. Powell, who will be speaking at the Cato Institute's Annual Monetary Conference, is expected to give actionable clues as to the Fed's decision regarding interest rates. The Dollar which is currently trading above the 20-year high of 108.9, seems to be heading even higher as there are speculations in favor of even more hawkish measures from the Federal Reserve Bank.
BTCUSD
Dim hopes for BTC as we approach a confluence of support. After declining over 72% from its All-Time-High since November, there may yet be some hope for a bullish bounce as BTC approaches a confluence region. The zone between $18,500 - $17,500 could provide some bullish relief for traders and investors alike. However, there are no clear indications of a bullish rally in sight just yet.
GBPAUD
GBPAUD has ended the day prior with a huge impulsive candle on the daily from the base of the channel, breaking above the previous 4-Hour high at 1.20353. Continuing along this road should take prices into the resistance zone between 1.21247 and 1.22417, from where the bearish trend can be expected to continue.
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