Indeed, the ECB delivered just that, revising up their forecasts, and we saw a great opportunity to buy the Euro against the Dollar and Pound right as the news hit. This perfect setup shows why we meticulously prepare using our cheat sheets for high-probability opportunities. Even if you entered the trade a bit late after the decision, there was still a significant upward move, capturing around nineteen points from the initial spike.
On Wednesday, we have the US CPI print—a critical indicator given the heightened focus on inflation in the US. Any deviation from expectations here could lead to marked Dollar movements. If inflation is higher than anticipated, expect some reversal of recent Dollar weakness as the market adjusts its view possibly towards a higher for longer rate scenario.
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