Economic calendar
We got red folder news only on Wednesday with FOMC. During this time on the month, this is probably the only thing that will bring volatiliy to the market.
DXY
Price made a CISD for lower prices on daily and reacted from weekkly SIBI…. but monthly bisi is still holding. As i said last week this monthly level is key. If we clos below on daily chart, we probably gonna aim lower.
Currencies
As indecisive as DXY. With the US dollar indice in a range we cannot expect so much fron currencies. I’ll stay sidelined for the moment.
Metals
Metals are bullish. It would be risky to anticipate any kind of retracement now. Gold is about to reach important levels at 4523.3. 72.095 can also be a target for silver.
Indicies
I cannot see anything but higher next week for indicies. 31100 as target fo NQ and next « institutional » level at 8000 for ES.
Conclusion
Be carefull with low volume during the second part of the month. Price can be rangin a lot wait for FOMC on wednesday.
I won’t be trading this week as i’ll be on vacation. take care all.
GLGT.
