Good day, dear traders!
Based on yesterday's article, I recommended buying the EURUSD pair on weak inflation from the US, but not just like that, but according to the NFP direction that was set last Friday. Let's look at this important setup from regular trading, which is repeated periodically, and you can always make money on it, just like yesterday.
So the idea was to work out a series of weak data that started coming in from overseas. It all started with the NFP, which greatly upset the dollar bulls on Friday night. This was the first call that you could get hold of when building a long position on the EURUSD pair. And this is shown in the screenshot below. Next, I built a strategy - if inflation also comes out weak - a third wave will arise upward in the EURUSD, and then you can make money on a series of fundamental weaknesses of the USD.
It happened. Before the news itself, I worked out the so-called "stretch before the news" pattern, which is usually associated with false expectations of traders. After the publication of weak inflation data, which differed from the neutral forecast by 0.1, the dollar weakened, and the EURUSD pair grew throughout the US session.
Who followed the trading recommendation to buy a pair on weak inflation - the first goal of profit-taking is 1.11460-1.11500.
Good luck with trading and control your risks!
