Intraday Analysis - EURUSD - ( 2nd MAR 2023 )
Similar to GOLD , will be looking for shorts on EURUSD. Overall bias stays as bearish. However we have EUR CPI during London session later.
If cpi comes out as per forecasted , or higher than forecasted, EURUSD will have a short lived rally to greater sell side liquidity zones as marked in the charts. However do note that the move may be short lived and could possibly be corrected the next day or the following week.
Why high CPI means EUR rally ?
Understand that CPI is a strong indicator of inflation. With high inflation , higher interest rates have to be implemented to combat inflation which will cause the strength of EUR to increase.
It is possible to take advantage of CPI data buys or shorts but risk lesser
HRHR BUYS AT 1.06850
MRMR BUYS AT 1.07300
HRHR SELLS AT 1.07900
MRMR SELLS AT 1.06800
SAFEST SELLS AT 1.05800
NOT ADVISIBLE TO TRADE NEWS FOR ROOKIE TRADERS
Similar to GOLD , will be looking for shorts on EURUSD. Overall bias stays as bearish. However we have EUR CPI during London session later.
If cpi comes out as per forecasted , or higher than forecasted, EURUSD will have a short lived rally to greater sell side liquidity zones as marked in the charts. However do note that the move may be short lived and could possibly be corrected the next day or the following week.
Why high CPI means EUR rally ?
Understand that CPI is a strong indicator of inflation. With high inflation , higher interest rates have to be implemented to combat inflation which will cause the strength of EUR to increase.
It is possible to take advantage of CPI data buys or shorts but risk lesser
HRHR BUYS AT 1.06850
MRMR BUYS AT 1.07300
HRHR SELLS AT 1.07900
MRMR SELLS AT 1.06800
SAFEST SELLS AT 1.05800
NOT ADVISIBLE TO TRADE NEWS FOR ROOKIE TRADERS