Technical Analysis

Trade ideas thread – European session 12 January 2023

It’s all about the US CPI data today but this is a market that is wanting a softer number, if the recent dollar and risk mood is anything to go by. EUR/USD is staying more tentative upon its latest breakout attempt above 1.0700 with AUD/USD also cautious in making its way towards the 0.7000 mark. Meanwhile, the S&P 500 has steadily climbed up to be within range of its 200-day moving average and key trendline resistance once again:

The question now is, will the inflation numbers help kick those plays into second gear as the new year gets underway?

What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.

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