I present to you the evening market analysis.
So today, Monday is one of the worst days to trade in a week, according to many experienced traders. However, if we filter out prejudice and look at the economic calendar, then the next news we will see is only on Wednesday and Thursday. Below, I noted all the important news on USD by the end of the week:
As you can see, this week, we have inflation on Wednesday, and on Thursday, PPI and Powell will be powerful volatile days. Think about it yourself, if you are a bank trader and know that on Wednesday - USD inflation - will you be gaining a position on rumors about its increase or decrease? Of course not! Do you know why? Because all profitable participants are "accountable" people, i.e. they report on their actions to management, investors, etc. Because it is a business. That is why market volatility is falling ahead of the good news. And now is just such a moment. Therefore, I recommend to wait until Wednesday and Thursday.
Most private traders trade a pair of EUR / USD, and I think that it's better to forget about "dollar" instruments by Wednesday. For saving money in flat is a great art. I'm perhaps the only analyst who will periodically recommend you not to trade :). "Stay in the cache" - believe me - far from the worst option in trading. After all, the main task in trade is to save a deposit.
Good luck in trading and see you at the morning review!
The material has been provided by InstaForex Company - www.instaforex.com