This week, Wednesday will be the big day for economic data, states Ian Murphy of MurphyTrading.com.
There will be inflation numbers in the morning followed by a Fed interest rate decision and press conference afterwards.
Unlike the ECB, who lowered rates by 0.25% last week, the US central bank is expected to hold firm for another while until inflation gets close to its 2% target.
Meanwhile, our old friend the 52-Week Strategy has been quietly climbing up the chart since the entry triggered on 24 November and it closed with an impressive 33% profit on Friday. Strategies like this are one of the reasons I’m such an advocate for Weekly Trend Following, the style just keeps doing its thing quietly and efficiently with no fuss.
Learn more about Ian Murphy at MurphyTrading.com.
