EURUSD only

Market wanting to melt, a 60 pips bulls rally would be good before falling

No idea, only time will tell. But do expect to test the daily trendline at least one more time.

overall trend remain bearish though

We must see EU breaking today, because of US CPI. A break above 1.0163 could lead the price at 1.0193 first. Support is holding for now - 1.0105.

Busy day today, watching more than 100 pips movements in the daily in the last few days I'm marking a possible range at 1.02380. If the news helps the Bulls of course.

Yes buddy, I'm also anticipating the price to go up before looking for shorts

Sorry keep waiting am here watching my 1.02590
That is the only place I we start looking for short sell
I wish u all good luck

Good morning, hope you're great. The bears seem alright;

Good morning,

Today upside targets are 1.0155 plus yesterday's daily high and resistance area 1.0180 – 1.0191. Beyond that, 1.0222. Southbound 1.0113 to 1.0063.

The bulls have started well, thanks to London opening;

Positive developments for the euro:

6000 sq km and counting reclaimed by Ukraine.
Russian MOD advised its soldiers to negotiate surrender
NPP electric supply restored with backup
CPI report may be mute. The rate increase propably .75
Ukraine electric grid now connected to European. Ukraine will be supplying electricity to Europe and vice versa if needed.

Putin and Xi meeting on the 15th. Got a feeling Xi will press Putty to back down from Ukraine and negotiate. Lets see.

London and Frankfurt markets will be playing some games today..... Caution is advised.

The bears are still at it;

For now (European session) all that matters to me is the reaction to the ZEW survey later. If, its above the forecasts then I expect EU to go up, but bad numbers may create a bottom at, around or, below 1.0105 today. Bulls should be favored with caution (because US CPI) after the ZEW survey or, later if, the numbers are bad from lower prices.

Good news

No typo. It's correct.

Higher or "greater" inflation is good for a currency, because market expects corrective measures from central bank.
These corrective measures mean hiking interest rates, tightening monetary conditions, reducing money supply.
When Fed raised rates to 1.75%, investors moved their cash from Euro to USD to earn high interest rates, or buy US Treasury bonds for higher yields.
That was better than storing it in Euro earning 0%. I would say moved in anticipation, because investors buy USD before the corrective measure, not after.

Greater inflation is only bad for a currency in the absence of follow up corrective measures, i.e. central banks do nothing.

The game of this fiat system is all about trust, confidence, psychology and expectation.

---

Tuesday US CPI day.

This inflation reduction act thing has been on the headline this morning. It sounds like a stimulus, works like a stimulus, is a stimulus "in disguise".
We've seen what stimulus does to the US currency, back between 2020 and 2021.

My view is, politicians should stop meddling around with something they tasked central banks to do, i.e. managing inflation expectation.
Stimulus buys votes, I agree, but it also destroys market confidence in the dollar, sending asset prices higher, which is okay to me too.

Price wise, I expect a test of the 200-SMA at 1.021, and trading between 1.031 and 1.027 (50% to 78% Fib) in coming days.
This acumulation that started post-Aug US CPI should end when price reaches 100% Fib at 1.035.

Best,
Cat

Seems like we need to wait for CPI for direction

1.0163 stoped the advance, because of bad news (ZEW on calendar). Now it need to take it out, or it may drop to the base again - 1.0120, but only 1.0105 risks a fall to 1.0091 as long as the price is capped by todays high.

The target for the bulls should still be 1.0193 - Daily R1 level.

Is that trou or wrong ???