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 keep staying on daily support
2019-11-11 • Updated
Technical levels: support – 1.1460; resistance – 1.1500.
- Sell — 1.1500; SL — 1.1520; TP1 — 1.1460; TP2 — 1.1390.
Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel of Tenkan-Kijun; the prices are tested daily support on 1.1460 again and may return to Tenkan-sen and Kijun-sen.
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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