Has the Market Priced In CPI Data? 🔕

As we enter the 5th trading session of the week, The monthly candle and weekly candles are still bullish. The Daily candle closed bullish to begin the week(Monday) and it appears that the market has possibly priced in the not-so-great data forecasted to be released on Wednesday. The Euro went up on a Monday with inflation forecasted to increase for the USD on Wednesday. Maybe we will continue to ascend on EurUsd as the market shrugs off increasing inflation for the USD. This doesnt make sense to me because the USD is a safe haven in times of uncertainty. I'm anticpating that this early push to higher prices early in the week is a discount as the price for EU will be alot lower to end the week(like 1.0805 4hr level or 1.0771 weekly level) And this will be a 2nd consecutive month where inflation increases. The last time we had 2 consecutive months where (USD) CPI increased was September 23' and July 22'. More details below.. make sure to check out the snapshots!

July 22' CPI(for June22') increase for 2 months in a row.. price dropped 100 pips the next day , pulled bac 315 pips the next 19 daily candles before dropping 750 pips across the next 34 daily candles

Sept 23' CPI release (For Aug23') increase for 2 months in a row.. EU went down 280 pips in the next 13 daily candles

Comment:

the 1hr london close candle has closed back isnide 1.086 4hr zone, this suggests a fakeout to the upside as price may continue to retrace back down to 1.08485 1hrzone. We were anticipating an increase followed by a decrease on EurUsd as Irrational exuberance fades and the markets begins to realize how bad increasing inflation, for 2 consecutive months really is for the worlds largest economy, USD the safe haven may be sought out as reality sets in and price may continue dropping into CPI and with CPI data 24 hours from now

Comment:

The Short Bias played out quite nicely, follow and leave a rocket for more analysis in the future!