This pair is positioning in a key area.
The price is below a 1hr trendline right before the upcoming cpi catalyst
The CPI (consumer price index) will be key for what direction the market will take. It is important to keep in mind that markets are already expecting inflation to print softer in April, by quite a bit actually with consensus expecting headline to slow to 8.1% from 8.5% and Core expected to slow to 6.0% from 6.5%
The price is below a 1hr trendline right before the upcoming cpi catalyst
The CPI (consumer price index) will be key for what direction the market will take. It is important to keep in mind that markets are already expecting inflation to print softer in April, by quite a bit actually with consensus expecting headline to slow to 8.1% from 8.5% and Core expected to slow to 6.0% from 6.5%
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The price did not give us any good trade opportunity to the upside which is great, but it did to the downside. Remember do not try to guess where price is going, have a plan and be reactive.
Wiiso