CPI to Knock It Off
Fundamentals & Sentiment
USD:
- Undervalued according to many market internals
- CPI Beat
- Monster jobs data (NFP, Unemployment, etc.)
- Risks: Initial claims beat - the market might see it dovish
CHF:
- Generally, the franc is too expensive for SNB's liking
- Bearish Internals
Technical & Other
*Buy limit
USD:
- Undervalued according to many market internals
- CPI Beat
- Monster jobs data (NFP, Unemployment, etc.)
- Risks: Initial claims beat - the market might see it dovish
CHF:
- Generally, the franc is too expensive for SNB's liking
- Bearish Internals
Technical & Other
- Setup: S(B)
- Setup timeframe: 4h
- Trigger: 4h
- Medium-term: Range
- Long-term: Down
- Min target: Aug highs
- Stop loss: 0.36%
- Position size: 0.8R
*Buy limit
Trade closed manually
Closed at breakeven - I don't like the pair and DXY price action on Daily (reversal pattern). The mixed data (CPI Up, Claims Up) add risks to the trade. I might reenter after some pullback.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.