IDEA 15 EUR/USD long in anticipation of Euro CPI

I closed my EUR/USD short for an almost 100 pip profit.

www.tradingview.com/chart/MWPheJUA/

Price is currently at support of the weekly breakout at 11/13/23.
Support is also at the MA10 and the EMA .
The 5 minute chart has stabilized with the lower Bollinger band straightening out.
Fundamentally, there is an expectation for an increase in the CPI print from 2.4 to 2.9%.
The ECB and FOMC have been expressing the same sentiment to the market that rate cuts should not be expected any time soon.
This may lead to more range trading.
I have taken a long EUR/USD position and will monitor progress for the next 36 hours. at the very least we may see a bounce to 1.0945.
On the downside, keep an eye on support at 1.0885-1.0895.
Good luck all and keep an open mind at all times for a shift in sentiment and change in price direction.

تم فتح الصفقة:

I miscalculated the lower support level but the wake up call from the market was needed. It is also the right response because the low of 1.0862 corresponds with two Fibo retracements(0.236 of 0.9532 to 1.1275) and (50% of 1.1275 to 1.0448). It also correlates with the weekly close of 1/23/23 which was a breakout then breakdown point and has now been confirmed as support. I am still long with a stop at 1.0840(just below 1.0852(11/20/23 weekly low).
On the bright side, price has made a third touch on the daily uptrend line and has reversed.