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.
Levels to trade EUR/USD
2019-11-11 • Updated
BUY 1.1420; TP 1.1450; SL 1.1405
SELL 1.1380; TP1 1.1350; TP2 1.1315; SL 1.1400
EUR/USD met resistance in the 1.1415 area. The pair’s advance in the recent days was quite rapid, so it might be hard for the euro to retain the bullish momentum. The return below the 50-week MA (1.1387) will open the way down to 1.1350 (200-day MA) and 1.1315. Below this level, the next area to watch will be at 1.1260 (100-day MA). The advance above 1.1420 is needed to open the way up to 1.1450 and 1.15. Much will depend on comments of the Fed’s Chair Powell pater today.
The odds of a final interest rate hike by the US Federal Reserve (Fed) this year have dropped after US job openings hit their lowest levels since early 2021. This has led to a correction in the US Dollar as traders reduced their bets on further rate hikes.
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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