Hello Traders,
There is a triple top pattern forming on the daily chart. It bounced off the support neckline of 33600 and has been trending upwards because of the improvement in risk appetite. There has been a exponential rise today which could signal a slight pullback before the continuation to the resistance at the triple top of about 34450. The US Inflation rate is out tomorrow which can signal the direction of further rate hikes or pause. If inflation expectation is beat then there will be further rate hikes and sour the risk sentiment leading to a drop in the US 30 and vice versa.
There is a triple top pattern forming on the daily chart. It bounced off the support neckline of 33600 and has been trending upwards because of the improvement in risk appetite. There has been a exponential rise today which could signal a slight pullback before the continuation to the resistance at the triple top of about 34450. The US Inflation rate is out tomorrow which can signal the direction of further rate hikes or pause. If inflation expectation is beat then there will be further rate hikes and sour the risk sentiment leading to a drop in the US 30 and vice versa.