Dollar Drops Ahead of the Inflation Data

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Published: May 11, 2022, 12:16 GMT+00:00

Dollar Drops Ahead of the Inflation Data

In today’s Traders Edge Market Briefing, Tomasz found these amazing setups that we thought you’d find interesting.

Major Financial Markets Technical Analysis

USDJPY breaks a major up trendline (blue). We anticipate the CPI having a negative sentiment towards the USD.

GBPJPY is fighting close to the neckline of the H&S formation.

Indices dropped again yesterday, but today traders tried to initiate a bullish correction. We’ll see how long that will last.

EURUUSD tries to break the upper line of the pennant formation.

Gold bounces off a long-term up trendline.

Brent Oil climbs higher after testing the lower line of the symmetric triangle pattern. It’s now time to test the upper one.

AUDUSD tries to establish a false breakout pattern. A close above the 0.7 will be a buy signal.

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Traders Edge: Market Briefing Video for 11.05.22

For a look at all of today’s economic events, check out our economic calendar.

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About the Author

Tomasz Wiśniewskicontributor

During his career, Tomasz has held over 400 webinars, live seminars and lectures across Poland. He is also an academic lecturer at Kozminski University. In his previous work, Tomasz initiated live trading programs, where he traded on real accounts, showing his transactions, providing signals and special webinars for his clients.

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