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Three promising Trading setups, while waiting for the Jackson Hole symposium
Tomasz Wiśniewski
Tomasz Wiśniewski
FX EmpireAugust 21, 2019, 3:51 PM GMT+5
Traders are waiting for the Jerome Powell to show the direction for the forthcoming months. Further easing? Probably yes but how big? Will he meet the President Trump’s expectations or no. Those questions are yet to be answered. For now, we have to wait but we still can spot three interesting setups on the market.
First one is the DXY, so a Dollar Index, which yesterday bounced from a crucial horizontal resistance. The bounce is shaped like a head and shoulders pattern, which definitely sounds interesting for the potential sellers. Going short now would be a bit premature though as the neckline is still intact. Only the price closing a day below the green line would be a good occasion to go short.


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