I'm expecting GU price to trend higher based on multi time frame analysis, supply and demand, and price action. looking at the trend we obviously see that price is in a daily correction. The correction appears to be complete and I'm expecting a nice bullish (BoS) move in the H4 time frame. When this happens, price should push towards daily highs and stretch even further towards 1.26.
This move is likely to happen based on the upcoming data release for US CPI and PPI coming this Wednesday and Thursday. I expect inflation to continue decreasing which would signal to the Feds that they should suspend hikes during May's meeting. If this is the case then I believe the dollar will continue to fall throughout the year.
This move is likely to happen based on the upcoming data release for US CPI and PPI coming this Wednesday and Thursday. I expect inflation to continue decreasing which would signal to the Feds that they should suspend hikes during May's meeting. If this is the case then I believe the dollar will continue to fall throughout the year.
Trade active:
SL moved to breakeven
Trade closed manually:
Trade was closed with decent profits.