Macroeconomic Overview
US inflation data will be released shortly.
If the inflation data is low, risk appetite will increase.
Because the purpose of the FED (Federal Reserve Bank) in monetary tightening is to reduce inflation.
If the inflation data is higher than expected, the dollar may appreciate in the global market and the risk appetite will decrease.
It also has a significant impact on the direction and movement of world stock markets.
When We Examine the Price Chart on a Daily Basis
If the price holds above the 0.70 level after the next FED meeting, the potential price target will be much higher.
Breaking the channel resistance by the price may harden the rise.
We can see downward sales with the inflation data. The status and size of these sales are important.
I think the possible selling will be a downward correction and will keep the price up to the 0.70 level.
US inflation data will be released shortly.
If the inflation data is low, risk appetite will increase.
Because the purpose of the FED (Federal Reserve Bank) in monetary tightening is to reduce inflation.
If the inflation data is higher than expected, the dollar may appreciate in the global market and the risk appetite will decrease.
It also has a significant impact on the direction and movement of world stock markets.
When We Examine the Price Chart on a Daily Basis
If the price holds above the 0.70 level after the next FED meeting, the potential price target will be much higher.
Breaking the channel resistance by the price may harden the rise.
We can see downward sales with the inflation data. The status and size of these sales are important.
I think the possible selling will be a downward correction and will keep the price up to the 0.70 level.