After 2 weeks, finally the Major Bullish Trend Line got broken. This trend started on the 25th of November 2024, and since then there have been 6 occurences where the price did respect this trend line that we have marked. Also we have marked the 6 touch points in yellow color for your to clearly witness the positions. And on the 11th of December 2024, this Bullish trend line finally got broken with an almost 40 pip sized red candle. This is a fantastic position to hop in for a sell trade, but there is a significant news thats about to happen.
US Inflation Rate
The significant news is the US INFLATION RATE. Therefore, we at Bro In Finance do not recommended you to engage in trading any sort of currency or commodities. Ofcourse, there are people who tries to catch the *BIG BOOM* and yes its amazing when the news release in your favor, but imagine if it didnt. Dont test your luck in trading specially when it comes to significant news. We do believe that the market started it bullish trend but we advise for you to wait till the market settles after this news and then you can find a good entry and enter a sell trade.
What will it be Bros? What will be the new inflation rate data? And will you be placing any trades despite having a significant news?
Check out our AI Forex Prediction category for more.
Not only forex, our BroInsights AI model predicts the future of your favorite companies like BT Group Plc, Aston Martin, Anglo American and many more here.
