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/JPY: bulls are painting AB=CD
2019-11-11 • Updated
TP1 136 TP2 137 TP3 138
On the daily chart, EUR/JPY bulls are trying to continue going up to 200% of AB=CD. Never the less, if bears manage to return the pair inside the previous consolidation range of 131.50-133.95, the risks of a reversal “Shakeout-Fakeout” pattern will increase.
On H1, after reaching the targets of the “Widening wedge” and rebound from support at 134, the rally continued. To seal their success, bulls need to renew December high.
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.
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