USDX TRADE IDEA
Hi all
from the weekly chart, the price high and low are almost retracing 0.618%.
Additionally, the Federal Reserve is aiming to lower inflation to 2%, thus we had a pennant pattern break low, which I see as contradicting.
I therefore expect to see a cpi y/y below 3.3 in this week's upcoming release of the CPI data, which could result in strong dollar.
Therefore, I am targeting the 1.618 fibo extension with my buy stop on the daily chart.
Let me know what you think In the comments!
**My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills**
Thanks a lot for your support
from the weekly chart, the price high and low are almost retracing 0.618%.
Additionally, the Federal Reserve is aiming to lower inflation to 2%, thus we had a pennant pattern break low, which I see as contradicting.
I therefore expect to see a cpi y/y below 3.3 in this week's upcoming release of the CPI data, which could result in strong dollar.
Therefore, I am targeting the 1.618 fibo extension with my buy stop on the daily chart.
Let me know what you think In the comments!
**My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills**
Thanks a lot for your support
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Can the resistance hold?
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.