US Inflation

Market Technical Outlook Before US CPI Release 11.09.2024

Hello Traders,

Good morning to all. We are trading within the London Session, a couple of hour before the US CPI Release which is on 13:30 GMT time. We will be presenting the technical market out look below for certain major instruments such as the USDX itself, EURUSD, XAUUSD, ES500. The next move of the markets might be decided purely based on CPI whether higher or lower. Sideways moves will be the result of a potential mixed CPI release. Check out as well our article in which we are explaining the different variations and possibilities at: US CPI Wednesday September 11th 2024 – What Traders Need To Know Ahead of The Release – OneRoyal Blog

USDX 4HR – As far as above 27.08.2024 & 06.09.2024 & CPI Higher On track towards the 103 area for a double correction higher – A lower CPI Could Impose Risks To The Downside & Challenges previous lows

USDX 11.09.24

EURUSD 4 HR Trendlines broken, Still On track For Deeper Correction towards the 0.5% – 0.618% Fib Retracements From 01.08.2024 With A Higher CPI – Otherwise 1.12000 Might Be Challenged

EURUSD 11.09.24

 

XAUUSD 4HR Sideways – Tendency for Potential Fake Outs – New High Still Possible – CPI Key For The Next Move – If Resistance from 20.08.2024 2532$ area remains Intact With A Higher CPI Reaction Towards 0.5% – 0.618% Fib Retracement Levels from 05.08.2024 Is Likely

XAUUSD 11.09.24

ES500 Mini Futures – 4HR CPI To Determine The Next Move – Higher CPI = Lower – Lower CPI = Higher

ES 500 11.09.24

 

As we can see most markets are looking for a breakout on either direction which it comes with anticipation of the CPI data and until then markets can remain choppy waiting for the data. We will be providing an update during the NY Session. Traders should keep in mind the different variations of the release and where markets are in terms of their technical levels to make better trading decisions ahead.

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