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CPI

[ CPI ] : A Catalyst for Optimism? 🏳‍🟧‍⬛‍🟧- The Weekly candle pulled back up after creasing last week's low - The Daily Candle yesterday closed in between our Daily Level's 1.09715 and 1.09495 - This was good for bulls as I mentioned because we closed above 1.09495 - Either way Eurusd was still technically inside our overarching Daily range between 1.106 Daily/Weekly level and 1.09495 Daily Level - CPI Coincided with a Bounce off Daily Support at 1.09495! How Beautiful. I mentioned this occurrence in my update on my previous 2 Posts. CPI decreased signaling optimism for markets. Inflation is decreasing and is on a smooth downward projectory. -Now will we observe a continued change of character with CPI data as the catalyst. We reject our lower prices and bottom part of the range and go back to 1.106 Daily/weekly Level. -Our first pit stop to the upside being Monda's Daily Level at 1.10226? -Price is currently at . If the Daily candle closes like this I say yes. But we must observe how the daily candle closes and if there is a follow through after the Initial bounce from CPI on the 1Hr TF. -The 4Hr Timeframe closed beautifully rejecting our Support areas below + We must observe if the 4hr zone which coincides with our daily level at 1.09715 can hold for more upside + We must consider that we often see a correction of news price action. It can take 2-3 Hours, 1-3 Trading sessions , or 1-2 trading days. We would observe a correction down to 1.09456 More Analysis: Trading went well as I earned profits with reduced position size due to increased news volatility. I made a few mistakes but overall I can't complain with a +.65% profit on the session and and similar +.60% gain during yesterday's Asian Session. It makes up for the tough trading Day I had on Tuesday and plus some. I do want to learn from my mistakes so I will be doing some further reflecting .
Long
by ShrewdCatfx
📈BTC analysis near release of CPI data📉BINANCE:BTCUSDT COINBASE:BTCUSD Hey everyone, first take a look at my previous BTCUSDT & ETHUSDT analysis and positions. Bitcoin may experience growth near this month's CPI data release event if inflation conditions improve. The trend is still bearish and the price takes another step for further correction with each rise Don't forget to risk-free your position. Please share ideas and leave a comment let me know what's your idea. CrazyS✌
Short
by CrazyS
2
NQ Power Range Report with FIB Ext - 5/10/2023 SessionCME_MINI:NQM2023 - PR High: 13273.00 - PR Low: 13253.75 - NZ Spread: 43.25 Evening Stats (As of 12:05 AM) - Weekend Gap: N/A - Session Open ATR: 189.73 - Volume: 13K - Open Int: 251K - Trend Grade: Bear - From ATH: -20.9% (Rounded) Key Levels (Rounded - Think of these as ranges) - Long: 13531 - Mid: 12959 - Short: 12392 Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
CME_MINI:NQM2023
by mv3trader5
Would like to be proven wrong Bulls! Eurusd 💶We have printed two Bullish Monthly Candles back to back. The first week of this current monthly candle for May 23' has closed as an indecision candle. I am gravitating towards the Bull side but would not be surprised to see more of a sell off after the May FOMC decision The FOMC decision to raise rates by 25 basis points coincided with our extreme highs of the Year around the 1.105 Weekly Level In a way I want to be proven wrong on the Sell Side for EU. I want to see Buyers stay strong around our extreme Highs here in the 1.10's and not be phased by a short term descent in price as FOMC price action settled after the initial announcement. I would like to see buyers at 1.09718 and 1.09480 Daily Level's be taken out before any more of an ascent occurs. The Price I'm looking for is 1.09176 Daily Level. To begin the week before CPI data on Wednesday I will be looking for price to pullback but will be happy if proven wrong instead with price displaying a quick ascent back to 1.1095 and beyond with CPI numbers.
Short
by ShrewdCatfx
GOLD - Where to next?MCX:GOLD1! TVC:GOLD OANDA:XAUUSD GOLD - Where to next? Well, as we had CPI out...5% - Dollar is getting sold it's what I expected but I am focusing on precious metals, we are heading higher but we are at key resistance. Highs 2050 lows 1980. we still within range a break below lows expect 1950 areas. However above 2050 highs, gold can easily achieve 2080 - 2100 areas. Pattern wise: Rising wedge - still within range no break out as for yet. Trade Journal
COMEX:GC1!
by Trade_Journal
EUR/USD rose from a two-week low Ahead of EU CPIEUR/USD rose from a two-week low as the dollar fell and rose for the first time in four days. Technically, the upward trend intends to regain the 10-day moving average on the daily chart. The Job report in Eurozone and the United States will be released within the day to see if it is good for the EURUSD to continue to break through and close to 1.11. However, investors should focus on the Fed’s decision and guide the dollar affected the EUR.
Long
by ATFX_Global
Long GBPJPY ideaAs we have UK CPI on Wednesday this long could be just an intra-day punt. Looking for a drop down into the imbalance and then a sweep of the recent swing high. There is a double bottom just below the entry hence why I am not really bullish. The news could be used to sweep those lows and maybe a pushed further down. Going to stay nimble. The USDJPY held up today, while the EURJPY and GBPJPY made an attempt to drop. IF we get direction in the UJ I'll use that as my lead for how much to bet on the GJ
Long
by Macrobriefing
GBPUSD - D/4H Technical Analysis Hi traders! I'm excited to share with you a detailed video analysis of GBPUSD on the Daily and 4H timeframe ahead of the CPI news for the USD. While on the Daily TF, we're experiencing a bearish trend, we recently reached an important OB area which could indicate a possible 4H drop or pullback that may push the price down soon. However, it's important to note that there is still a possibility for a 4H bullish impulse that could break the recent top. For now, our focus will be on the sell setups. I want to remind you to trade with caution and avoid trading during the news event. If you happen to get a sell setup, try taking it after the news has cooled down a bit. Also, keep an eye out in the comment section as we will keep you updated with our analysis. Keep up the great work and happy trading!
Short
by financialflagship
AUDNZD Outlook 20 April 2023The AUDNZD continues to trade higher as price respects the uptrend and maintains within the upward channel. Most recently the price bounced strongly from the horizontal support level of 1.0810 and the bottom of the channel to trade up to the 1.0890 resistance level following the release of the NZ CPI q/q data at 1.2% (Forecast: 1.5% Previous 1.4%). A slowdown in inflation growth could reduce the need for the RBNZ to continue with further interest rate hikes. While a continuation of the uptrend is expected, watchout of a possible brief retracement at the current resistance level or at the top of the channel. Continuation of the upside is likely to require further weakness on the NZDUSD. Ideally, look for buying opportunities after a retracement on the AUDNZD.
Long
by JinDao_Tai
1
NZDUSD ✨ CPI News Trade ✨ q/qAn Anticipatory Analysis of Price Action (5) TP3 @ 0.7100 (close trade) (4) TP2 @ 0.6700 (shave 25%) (3) TP1 @ 0.6450 (shave 25%) (2) BSO @ 0.6225 📈⏳ (1) BLO @ 0.6105 📈⏳ ADDITIONAL INFO: 1️⃣ If the PA (Price Action) PB (pulls back) during the NZD News on Wednesday evening, we should be able to capture the UT (uptrend) with this Buy Limit Order 2️⃣However, if PA continues the UT, then we'll be "good to go" with the Buy Stop Order 3️⃣This is our first chance to profit. I picked this price because there is a wick-over-wick (8D) that may work as a pullback, so let's put some money in our wallets and chop off 25% of our investment at Take Profit 1 4️⃣This is our second chance to make a buck. I picked this price since there is a Major Resistance level (6D) that might work as a retracement, therefore we need more money in our wallets before PA arrives. An additional 25% will be shaved at Take Profit 2 5️⃣This is our third chance at making a profit. This is where we quit the ride, cancel all of our remaining buy positions at Take Profit 3, and prepare to short this thing since there is a Major Supply Zone @ 0.6715 (8D) that has a strong likelihood of reversing the trend to a short position
Long
by ProfessorCEWard
GBPJPY Technical Analysis 19.04.2023 1h chart– Previous Daily candle closed Bullish at 166.530 breaking above the previous Weekly High. – Buys on close above 166.900 targeting 30min Resistance formed on 16th December 2022 at 167.230, Leaving Runners to the Daily previous Support formed on 14th December 2022 at 167.660. – Sells on close below 166.450 targeting 4h Support at 166.240, Leaving Runners to the Daily Support formed at 165.930. – High Impact News data ahead for the Pound Sterling at Pre London for the CPI y/y forecasting 9.8% / Previously was 10.4%, High Volatility expected at the London Open.
by SalimFX20
The Dollar battle continuesAn interesting view of the recent downtrend in the Dollar (specifically highlighted on USD/CAD) is that with each subsequent rise in Fed rate expectations, the Dollar has seen further weakness. The Fed funds futures were showing a 25% chance of a hike on March 24, as the banking crisis swept the headlines. A week later futures were signalling a 58% chance, which rose to almost 70% after the employment data on April 7. Today they are showing an 85% chance of a rate hike, yet the weakness continues. The 2 hour chart highlights this well with the longer downtrend line starting on March 24th, when sentiment was at it lowest. Since then we've seen a 5 day up move that failed after a bullish pop on Bank Holiday Monday, followed by a 2 day up move that looks to be breaking today as we once again look to be failing on a micro trend line. Today however we do get CAD CPI which is the other side of the equation, expectation is for 0.6% on a previous of 0.4% which did result in an 85 Pip move to the upside. The last time CAD CPI was higher than expected was on Dec 21st, so I think the possibility of a lower figure is high as the Canadian economy continues to handle inflation well. From a technical perspective CAD1.3400 area corresponds to the 38.2% retracement of last week's decline and houses the 200-day day moving average.
Long
by RuckSack
1