CPI y/y reflects the percentage change in consumer prices compared to the same month of the previous year.
Chart Of The Day series – 9 January 2023
The USDCNH reversed lower last October and rode the USD weakness. Early December we broke through a H&S formation pattern and after a S/T consolidation we seem to be resuming the downside.
The DXY had a strong day to start the year and it is threatening with a break higher after a 3 month move lower.
Crude oil closed last week at a key confluence of supports ~$77, while completing a double top target.
The month of December is often a very big trading month. It’s the last month of the year and that brings with it a whole host of trading patterns we need to keep watch for. Firms can close up some/all positions to book year-end profits, and central banks issue their final monetary policy announcements for […]
Gold is testing the key confluence of resistances at $1680.