U.S. CPI Index To Inject Some Volatility?

This week’s performance is sluggish with exemption of the DAX where we got some profitable trading chances. In both EUR/USD and GBP/USD trading was very quiet in the last three days with almost no profitable trading chances.

Today we might see some larger moves in the Forex market with U.S. inflation data on tab at 12:30 UTC. Inflation is expected to exceed 7 percent and a higher-than-expected reading could bolster the U.S. dollar trade. Markets are currently pricing in more than five Federal Reserve rate hikes in 2022.

EUR/USD: Dollar bulls will watch out for a break below 1.1380. Target at 1.13. Sentiment changes in favor of the euro bulls above 1.1480.

GBP/USD: Dollar bulls will watch out for a break below 1.3490. Target at 1.3410. Sentiment changes in favor of the sterling bulls above 1.3610.

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