Two reasons for sale

Events that should be paid to today:

15.30 MSK. USA: Inflation for March.


A negative background for a given currency pair is formed for today. First, the States will publish a release on inflation for March, which will indicate a strong consumer price increase. The Fed of the United States is clearly late with the tightening of credit and monetary policy and even raising rates by 0.5% at a meeting of May 4 will not be able to change the trend on inflation. For inflation, oil affixes Prices that are now 62% higher than a year earlier. Even if in May, the price tag for oil will fall by 10% against the background of the supply of black gold from the US strategic reserves and their allies, the indicator will be above May 2021 by 30%, which will also contribute to the growth of inflation. In my opinion, inflation in the United States at the beginning of summer may well achieve a 10% mark. Secondly, investors are increasing short positions in the US stock market, which is also negative for this currency pair, since it historically correlates with the SP500 index. Strong inflation growth in the States can strengthen sales on the NYSE stock exchange.

Trading Recommendation: SELL 125.80 / 126.15 and Take Profit 124.97.