Euro / U.S. DollarShort
EURUSD Price Analysis Bears are gaining Control of the price
Updated
EURUSD Price Analysis: Bears are Gananing control of the price
On the Friday NFP Data Pushed the EUR/ USD Price UP to 1.1155 how ever the market absorb the news the Price move down again. Several factor's contributed to this decline one of which is upcoming CPI inflation Data released on Wednesday on September.11
The market expects the US inflation to come on 2.6% down from 29% the precious month. This has led to speculation about the FOMC next move and potential rate cut's. Given the bearish price Reaction I anticipate EURUSD to continue its downward trend ahead of the US CPI data.
The price could drop tomorrow to 1.1030 where it will encounter the first and strongest support zone. A move below 1.1030 should push the Price down further otherwise it will rise again.
You may find more details in the chart 📉
Please support like and comments if you find this Anylasis useful for your Trading Day❤️
On the Friday NFP Data Pushed the EUR/ USD Price UP to 1.1155 how ever the market absorb the news the Price move down again. Several factor's contributed to this decline one of which is upcoming CPI inflation Data released on Wednesday on September.11
The market expects the US inflation to come on 2.6% down from 29% the precious month. This has led to speculation about the FOMC next move and potential rate cut's. Given the bearish price Reaction I anticipate EURUSD to continue its downward trend ahead of the US CPI data.
The price could drop tomorrow to 1.1030 where it will encounter the first and strongest support zone. A move below 1.1030 should push the Price down further otherwise it will rise again.
You may find more details in the chart 📉
Please support like and comments if you find this Anylasis useful for your Trading Day❤️
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