EURUSD If you have any uncertainties or would like to discuss my viewpoint further, please let me know. The market is fair, and those who master analysis can profit. However, a lack of knowledge often leads to losses. While some may enjoy fleeting luck, sustainable success is rooted in careful analysis. I’m here to provide any support you need!
Trade Idea: Sell
Entry Price: 1,980.00 Stop Loss: 1,990.00
Take Profit 1: 1,965.00 Take Profit 2: 1,955.00
Reason for Entry: The price is approaching a strong daily resistance level and has reached the Fibonacci retracement level of 78.6%. This indicates a potential reversal, making it a suitable point for selling.
Core CPI m/m Previous- 0.3% Forecast- 0.3% (High Impact Flat Numbers so don’t expect much reaction unless numbers comes in higher or lower)
CPI m/m Previous- 0.2% Forecast-0.2% (High Impact Flat Numbers so don’t expect much reaction unless numbers comes in higher or lower)
CPI y/y Previous- 2.4% Forecast- 2.6% (High impact Bullish. If numbers come in as expected we can expect DXY to continue pumping and the need for a further rate cut less and less. If number comes in lower than we can see a strong retracement on the DXY highly likely)
Immediate resistance is 1.0626 on 20 EMA. Next numbers to watch out for are 1.04500 for High TF Support snd 1.816 for High TF resistance.
I hope this helps and see you all bright and early in New York session. Cheers 🥂