CPI to Knock It Off

10 Eki 2024

Fundamentals & Sentiment

USD:
- Undervalued according to many market internals
- CPI Beat
- Monster jobs data (NFP, Unemployment, etc.)
- Risks: Initial claims beat - the market might see it dovish
CHF:
- Generally, the franc is too expensive for SNB's liking
- Bearish Internals

Technical & Other

• Setup: S(B)
  
• Setup timeframe: 4h
  
• Trigger: 4h
  
• Medium-term: Range
  
• Long-term: Down
  
• Min target: Aug highs
  
• Stop loss: 0.36%
  
• Position size: 0.8R
  

*Buy limit

11 Eki 2024

İşlem elle kapatılmış

Closed at breakeven - I don't like the pair and DXY price action on Daily (reversal pattern). The mixed data (CPI Up, Claims Up) add risks to the trade. I might reenter after some pullback.