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.
- Subscribe to our daily signal service
Try out our new signals for cryptocurrencies:
Long @ 3210
Short @ 3140
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.
Copyright © All Rights Reserved 2022 MaiMarFX.
Follow us on social media: