what will EURUSD do after inflation?
Today was the release of the usd core inflation rate and the result is pretty dramatic, the result was 4.5% which is the highest since 2008. what will this do for the dollar? initally there was a sell off but now it seems as though price is making its way back. what we can see on the daily timeframe is we have experienced the 3rd touch of the daily uptrend so it all depends if price is going to break below or stay above. if it does stay above and continue its uptrend then we will be looking for quick in quick outs and placing our trades at the start of the London session to ensure the most volume and catch the daily movements that way.
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