Roller Coaster Ride

Inflation-Thursday proved to be a roller-coaster ride in the markets. U.S. inflation came in at 7.5 percent and was thus higher-than-expected. While the initial market reaction sent the U.S. dollar higher, the following whipsaw performance wiped out any previous gains. At the end of the trading day and after three fake-outs we had to record a small loss. However, also these days happen in trading and we will get over it.

After yesterday’s wild ride we may see some more profitable movements today.

Have a nice weekend.

Our trading ideas for 11/2/22:

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EUR/USD

Long @ 1.1440

Short @ 1.1365

GBP/USD

Long @ 1.3565

Short @ 1.3510

DAX® (GER30)

Long @ 15410

Short @ 15340

ETH/USD

Long @ 3170

Short @ 3070

Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.

We wish you good trades!

Any and all liability of the author is excluded.