EUR/USD Uptrend Continues After a Retracement

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

The EUR/USD has started a retracement after better than forecast US CPI.

The EUR/USD started to drop after the better than expected US CPI. Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate. At this point the price is dropping. 1.1290-1.1315 is the possible bounce point. Look for the bounce there for a possible 1.1485 retest.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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