The upcoming August inflation data may send mixed signals. The 12-month headline inflation rate is expected to rise to 3.6%, causing concerns for the Biden administration. However, core inflation, which excludes food and energy prices, is projected to decrease to 4.3%, aligning with the Federal Reserve's goals. Past price trends influence both figures, so looking at recent data for a more accurate picture is crucial.
EUR/GBP: bulls are lifting their heads
2019-11-11 • Updated
TP 0.929 TP2 0.9355 TP3 0.942
On the daily chart, EUR/GBP keeps forming “Spike and reversal with acceleration”. Until the price falls below both trendlines, bulls will retain control of the situation. Their further movement up will increase the possibility of an advance towards 127,2%, 161.8%, 200% and 224% targets of AB=CD.
On H1, a break above resistance at 0.9213 and the following triggering of the “Widening wedge” and the “Shark” patterns will increase the possibility of an advance to 0.9285-0.9290.
Here we go again, my friends. It’s time to look critically into the future of what trading opportunities September might have in store for us. As always, it is essential to note that the views expressed here are mine and should not be considered financial advice without proper examination.
Emerging market countries, including the BRICS bloc, are expressing frustration with the US dollar's dominance in the global financial system. While there have been discussions about creating alternative currencies to challenge the dollar's dominance, no concrete proposals have emerged. Instead, these countries are considering expanding trade using their own currencies to reduce reliance on the dollar.
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