Fundamental Backdrop
1. CPI m/m printed 0.1% compared to forecasted at 0.2%
2. Fed hikes effects really slowing inflation down
3. USD fell shorting after, signifying the slowing down of inflation at a faster pace than what the market has been pricing in.
Technical Confluences
1. Price rejected off resistance at 102.8.
2. Price looks good to form a new higher timeframe low and continue its bearish trajectory.
3. There has not been a strong confluence for any longs on the DXY thus far.
Idea
We are looking for price to continue its bearish trajectory till 101.67 and the probability of it forming a new low is now high.
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 m/m printed 0.1% compared to forecasted at 0.2%
2. Fed hikes effects really slowing inflation down
3. USD fell shorting after, signifying the slowing down of inflation at a faster pace than what the market has been pricing in.
Technical Confluences
1. Price rejected off resistance at 102.8.
2. Price looks good to form a new higher timeframe low and continue its bearish trajectory.
3. There has not been a strong confluence for any longs on the DXY thus far.
Idea
We are looking for price to continue its bearish trajectory till 101.67 and the probability of it forming a new low is now high.
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.