Although the inflation rate dropped yesterday, the possibility of the next rate hike by 75 basis points is as high as 75 basis points, which will have a very big impact on the dollar. Because at this stage, if the Fed raises interest rates sharply again, it will have a great impact on many companies, and funds will also flow out of the United States in large quantities. When a large amount of capital outflows from the United States will cause the dollar to continue to fall, then there is an opportunity to long the rest of the non-US currency products.
The H4 chart uses Fibonacci to backtest the price after hitting 0.786, then reversed and reported 0.97907. At this stage, it seems that the price still has the strength to promote the rise from the disk.
The H1 chart briefly fell after the release of the CPI data yesterday and successfully broke through the lower support level, but subsequently pulled up and returned to the top of the support level. The RSI indicator can also see that the price has formed a golden cross and is at the 60% position, indicating that the price still has room to rise.
Look for opportunities to do more in the low position.
All transactions involve risks, the above analysis is for reference only. When placing an order, be sure to set the lot size and remember to set the stop loss.