Two news developments have strengthened the expectation of continued volatility this week, and the probability of further downside has been reduced. First, Bessent stated that he does not expect the Federal Reserve to take rapid action on its balance sheet. This has strengthened expectations for subsequent rate cuts. Second, the People's Bank of China has slowed the pace of interest rate hikes. This can effectively alleviate the negative impact of reduced liquidity caused by weakened carry trade. If there are no unexpected news events, the two developments on Wednesday should also be positive, and the probability of a sideways upward movement this week is high. However, a reversal is still not imminent! Starting now! Brothers! It's okay, give a like! Thank you!