CORE CPI (YoY):
PREVIOUS: 4.7%
FORECAST: 4.3%
In the last 5 months of core cpi results, 3/5 actuals have equalled forecasts, with the last 2 months both coming in below forecast. This month is predicted to have the biggest percentage drop out of those previous months.
CPI (YoY):
PREVIOUS: 3.2%
FORECAST:3.6%
When looking at the CPI numbers in the same previous 5 months, 5/5 results have come in lower than forecast, could this be 6 in a row?
This month we have conflicting forecasts with core CPI going up, but CPI dropping at the same time.
With price hovering around the previous Higher Low, I'm interested to see if any event news volatility could cause a print of a lower low on the 1D timeline for the first time this year. Even if it's just a wick and not a full close on the daily, this could confirm a new HTF bearish bias. Added confluence for this would be the loss of the bullish trendline in red. Weeks of consolidation under that area after a bearish retest plus all 3 EMA's suggesting downtrend, Bitcoin has a lot of work to do. The large FVG needs filling at some point, and it looks to be on its way there currently.
I'm always cautious going into these big news events, the first move is usually wrong so remember that.
PREVIOUS: 4.7%
FORECAST: 4.3%
In the last 5 months of core cpi results, 3/5 actuals have equalled forecasts, with the last 2 months both coming in below forecast. This month is predicted to have the biggest percentage drop out of those previous months.
CPI (YoY):
PREVIOUS: 3.2%
FORECAST:3.6%
When looking at the CPI numbers in the same previous 5 months, 5/5 results have come in lower than forecast, could this be 6 in a row?
This month we have conflicting forecasts with core CPI going up, but CPI dropping at the same time.
With price hovering around the previous Higher Low, I'm interested to see if any event news volatility could cause a print of a lower low on the 1D timeline for the first time this year. Even if it's just a wick and not a full close on the daily, this could confirm a new HTF bearish bias. Added confluence for this would be the loss of the bullish trendline in red. Weeks of consolidation under that area after a bearish retest plus all 3 EMA's suggesting downtrend, Bitcoin has a lot of work to do. The large FVG needs filling at some point, and it looks to be on its way there currently.
I'm always cautious going into these big news events, the first move is usually wrong so remember that.
Comment:
FOMC up next, FED interest rate decision forecast to stay at 5.50%.