Forex Signal For EUR/USD: US Inflation Data Puts Euro in Trouble
Forex Signal For EUR/USD: US Inflation Data Puts Euro in Trouble
The pair will likely continue to decline if sellers target the next key support at 0,9950.
Bear Market Outlook
- Sell the EUR/USD pair and take a profit at 0,9950.
- Add a stop-loss at 1,050.
- Timetable: 1 day.
Forex Signal For EUR/USD: US Inflation Data Puts Euro in Trouble
Bull Market View
- Set a buy stop at 1,0100 and a take profit at 1,0150.
- Add a stop-loss at 1,000.
The EUR/USD price has dropped to the same level as investors continue to worry about the European economy and also ahead of the upcoming US consumer inflation data. With a drop of over 12% in 2022, it was one of the worst years for the euro in decades.
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