After the 1st Fed Hike in Dec -2015 , Every month Fed has deferred to hike rates till June 2016.
Also a major Macro economic event of Br-exit Happened on 23rd June 2016, which has kept FED to Rethink the Interest rate hike now to postpone at least 2-3 months now…..
In the meanwhile all this was happening Chart depicted Bullish signs already and after the Br-exit it broke out of the 18250-15940 range and its trading at Life highs now.
Looking at the chart below the First Level it could touch comes to around 19350 Zone and Surpassing it could touch 21000-21200 Zones. (Click to Zoom the Chart)
The Breakout after such negative macro even shows strength for the upside rally . Lets see how it does going forward.
Meanwhile Junk Bonds Globally are again breaking out for a rally and Dollar Index in a range to stimulate further Rally. Due to Br-exit European Union will have to further stimulus their bond Buying program if they cannot cut the rates further.
Globally Situations in Europe, Japan and China the major economies is still deflationary and till then the possibility of further rate hikes is less likely.
In-case any rate hike by fed still taken in such Scenario would be catastrophic for CURRENCY WAR.