Being the 1st week of the month. We are looking at possible retracement to Monthly Pivot or 1.40000. Current reversal zone looks strong due to the false move breaking the previous month low. Inducing short positions. Price is also around 1.37500 Quarter Point.
Data from Singapore released today showed inflation based on the consumer price index (CPI) grew 6.7% (yoy) in June, which was the highest level in 14 years, since September 2008.
Core inflation also rose 4.4% (yoy) from May's 3.6%, and was at its highest level since December 2008.
Inflation in Singapore continues to rise, even though the Monetary Authority of...
Entry above 1.3676
Protective Stop 1.3813
Target 1: 50% of the size 1 to 1 risk to reward 1.3945
Target 2 above 1.41
Move stop to breakeven when it hits Target 1
Keep managing stop if continues to rally
Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
The upward trend in inflation has prompted the US central bank to tighten monetary policy dramatically. The US benchmark interest rate, which was originally expected to rise by around 75 basis points (bps) in 2022, has drastically changed to 175 bps. For the record, the increase in the US benchmark interest rate has increased by 75 bps. An increase of 25 bps...