Daily Market Analysis 21.09.2022: US2000

Instrument: US2000

Technical Analysis

Bullish Preference:  
A buy position is envisaged if price trades above1 1803.1 with take profit at  1807.8
Bearish Preference: 
A sell position is envisaged if price trades below price 1786.0 with take profit at 1781.2
3:00pm   USD   Existing Home Sales
7:00pm    USD    FOMC Economic Projections 
                USD    FOMC Statement
                USD    Federal Funds Rate
7:30 pm  USD    FOMC Press Conference

The dollar has also benefited from the widely held expectation that the U.S. Federal Reserve will announce an interest rate increase of at least 75 basis points later Wednesday as it attempts to combat stubbornly high inflation. That said, a full percentage point hike is not completely out of the question as last week’s consumer price index showed inflation remaining near 40-year highs. “There seems no reason for the Fed to soften the hawkishness shown at the recent Jackson Hole symposium and a 75bp ‘hawkish hike’ should keep the dollar near its highs of the year,” said analysts at ING, in a note.

Analysis: SCRUM Team

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