Fundamental Backdrop
1. CPI tomorrow will give greater clarity to the direction of the USD.
2. Last week's NFP result was positive and bullish for the USD, with unemployment rate falling to 3.5% yet again.
3. CPI m/m forecasted at 0.2% compared to previous 0.4%, market has been pricing in a further slow down in CPI.
4. CPI reading would provide insights to the next FOMC meeting and whether Fed continues to hike or pauses.
5. Core CPI m/m forecasted at 0.4% compared to previous 0.5%.
6. All in all, inflation has been slowing down and Olympus Labs forecast that the road to inflationary cooling will be a smooth one from here on out.
Technical Confluences
1. Price rejected off resistance at 102.8.
2. DXY still bearish on H4 timeframe.
3. Price could potentially tap into the support at 101.67.
Idea
We are looking for price to continue its bearish trajectory till 101.67 and potentially form a new low.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
1. CPI tomorrow will give greater clarity to the direction of the USD.
2. Last week's NFP result was positive and bullish for the USD, with unemployment rate falling to 3.5% yet again.
3. CPI m/m forecasted at 0.2% compared to previous 0.4%, market has been pricing in a further slow down in CPI.
4. CPI reading would provide insights to the next FOMC meeting and whether Fed continues to hike or pauses.
5. Core CPI m/m forecasted at 0.4% compared to previous 0.5%.
6. All in all, inflation has been slowing down and Olympus Labs forecast that the road to inflationary cooling will be a smooth one from here on out.
Technical Confluences
1. Price rejected off resistance at 102.8.
2. DXY still bearish on H4 timeframe.
3. Price could potentially tap into the support at 101.67.
Idea
We are looking for price to continue its bearish trajectory till 101.67 and potentially form a new low.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.