February 16th ETH Analysis:
Japan's interest rate hike combined with non-farm payrolls adds to the challenges!
Currently, Japan's interest rate tightening policy is basically a done deal, with a 96% chance of a 25 basis point hike in December, while the forecast for non-farm data shows the unemployment rate rising to 4.5%. A high unemployment rate will reduce the probability of interest rate cuts, putting increasing downward pressure on the market!
Focus around the 2942-2968 range, with a target of 2870 breaking down to look at 2820-2738.
Build positions based on your own allocation for protection.
