EUR/USD still looking long-term neutral on the Daily Chart

forex_news3Friday’s afternoon session started with a sharp decline in the pair, as the bullish U.S. CPI reading initiated another leg up in the broad Dollar rally. The index came in at 0.2% while the Core CPI was 0.3%, compared to the consensus estimates of 0.1% and 0.2% respectively. The UOM Consumer Sentiment Index missed expectations, but that didn’t change the underlying intraday trend, as the odds of a Fed rate hike increased, despite the recent mixed economic numbers.

Our assessment: The pair might be starting a new short-term downtrend after testing the 200-day MA on Friday, as it also broke the crucial support near 1.1185, especially if the FED decides on a rate hike on Wednesday.

Рейтинг FOREX брокеров

Рекомендуемые брокеры


 

Leave a Reply