love this chart

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I think it will turn when retesting the previous falling wedge at 1.2113

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For me this looks bullish simply because many of the last H1 candles have long skidmarks to the downside, plus the hourly lows rise slowly.

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So let's see now hot the market trades it until close, so far it seems that higher inflation might be USD negative right away as I suspected, but we are still in the volatile phase, so it might change any time.

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yihaa, whatup @energies, rollercoaster or rocket?

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Yes that's correct, I was just saying that it is contradictory that you do not expect the FED to taper, but you still expect inflation to be USD bullish. So you probably meant that the market expects the FED to taper but you don't. This would mean ...

EURUSD only

What you are saying is contradictory. Inflation is only bullish for the dollar if it prompts the FED to be hawkish, meaning tapering at least, as a signal of earlier rate hikes. Otherwise inflation just decreases the value of the dollar.

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Tomorrow we get US CPI numbers again. The trading logic will be interesting, certainly lower than expected CPI numbers would be USD bearish, however, as the employment figures did not yet post positive surprises, I believe that high inflation ...

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That was exact. Hope someone traded on it, for myself it is too short term, not worth the hustle. This H4 candle could go down to 1.2158 or up to 1.2192 according to my setup. So 1.2158 would be a buy opportunity, 1.2192 a sell opportunity. ...

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Think 1.2188 will be a scalp sell opportunity, as the support line of the small rising wedge shown above gets retested. Expect it to trade the range today without going above 1.22.

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That was the retest

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Now it forms a small rising wedge on M15, so all signs point to a retest of 1.2160 soon, which would be a good buy opportunity.

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Sorry for the late answer, this is H4..

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This went quick, so expected reversal would be from 1.2197. Just in case the small wedge makes a fake breakout to the upside it would be 1.2212.

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Or maybe rather like this, suggesting that after breaking the big falling wedge to the upside and touching 1.22 - 1.2212 the smaller rising wedge might break to the downside to retest the large wedge at around 1.2150, depending on how quick it goes. ...

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This is a potential small rising wedge within the big falling wedge I showed above, could mean another rejection from the resistance, but not clear how far it would go. In the end the larger wedge should prevail.

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I built some longs on Friday and today with an average entry of 1.2121, think we are in a big falling wedge and waiting for a breakout to the upside It is shown below in H4 with with three possible resistance lines, but the implication is always the ...

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cool graph - what would be the upper resistance if we were to break into the channel again?

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There was a long time window where the US clearly had an economic advantage due to the massive stimulus and all the lockdowns in the EU, but this advantage is clearly over very soon. No reason to believe in US exceptionality from now forward.

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Perfect falling wedge on M15, this one will go up!

EURUSD only