Lack Of Direction

The U.S. dollar lacked direction ahead of Fed Chair Powell’s testimony before Congress starting today. If Powell surprises on the hawkish side with later-than-expected rate cuts this year, the greenback would benefit.

On the back of the recent sideways movement, none of our yesterday’s trading signal entries was triggered.

However, the main event for traders this week will be Friday’s NFP report.

Let’s wait and see.


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Our trading ideas for today 6/3/24:


Long @ 1.0865

Short @ 1.0830


Long @ 1.2715

Short @ 1.2660

DAX® (GER40)

Long @ 17740

Short @ 17660


Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.

We wish you good trades!

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