European CPI Flash Estimate y/y: 2.1% v 2.0% expected and 2.0% previous

Mini Eurozone data dump

Here we go:

• European CPI Flash Estimate y/y: 2.1% v 2.0% expected and 2.0% previous
• European Core CPI Flash Estimate y/y: 1.1% v 1.0% expected and 0.9% previous
• European Prelim Flash GDP q/q: 0.3% v 0.4% expected and 0.4% previous
• European Unemployment Rate: 8.3% v 8.3% expected and 8.4% previous

The fallout:

• GDP misses.
• The CPI numbers and Unemployment at expectation
• With EUR/USD at resistance, there isn't much initial momentum.
• Maybe we'll get our intraday lower low and have the ability to sell rallies afterall.

I see that some of you didn't like it when I said 'resistance is resistance until it's not', but it is such a good mindset to have when trading.

If price is below higher time frame resistance then you're looking for shorts. Keep it simple and keep your risk:reward tight.