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: who will be the loser?
2019-11-11 • Updated
SELL 134.95 SL 135.5 TP1 134.3 TP2 133.7
BUY 136.2 SL 135.65 TP 137.2 TP2 138
On the daily chart, EUR/JPY is consolidating in the 135.00-136.40 area. A break of its upper border will increase the odds of advance to 127.2% of AB=CD pattern. The nearest support level is near 134.30.
On H1, EUR/JPY is retesting the neckline of “Head and Shoulders”. A break below correction low will allow bears to count on the continuation of a pullback. On the other hand, advance above 136.20 will increase the risks of uptrend’s resumption.
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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