Euro-Zone Consumer Price Inflation Down 0.3% In Jan, EURUSD Tests Support !

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The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.

The Euro-Zone CPI fell 0.3%, from 0.4% in the previous month, analysts had expected it to remain unchanged 0.4% in the last month…

Market impact: Since the pair is in a recovery mode as intraday timeframe suggests, a corrective pullback towards the key support 1.0997/1.0880 levels is likely before the next rise, a clear break below 1.0980 – which is unlikely before U.S data – will open 1.0954 levels ahead of the 1.0890 levels….Anyway: The EURUSD continues to face recovery threats above the 1.0997/1.0980 levels in short term view….

Further Reading:

EURUSD Daily Forecast Feb 25 2016

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Short-term outlook in EURUSD remains on the downside, as long as 1.1070 resistance holds on a daily closing basis, support comes at the 1.0985...

 

MARKET DATA

UPCOMING ECONOMIC EVENTS