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/USD: euro goes to August’s lows
2019-11-11 • Updated
Technical levels: support – 1.1350, 1.1300; resistance – 1.1410.
- Sell — 1.1410; SL — 1.1430; TP1 — 1.1350; TP2 — 1.1300.
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market made new lows and after consolidation may continue downtrend with targets on 1.1300.
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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