EURUSD Continues Short Term Recovery On Flat Consumer Inflation !

The Euro-Zone Consumer Prie Inflation rose -0.1%, from -0.2% in the previous month, meeting forecast of -0.1%…

Core Consumer Inflation also rose 0.8%, from 0.7% in the previous month, meeting forecast of 0.8% …

This development keeps the recovery mode in short term view intact, the pair has tested the key support 1.1133 as we mentioned this early morning and rebounded to 1.1164 levels, there’s a room for further upside towards the 1.1184 before the next fall…

Eyes next on U.S CB Consumer Confidence data at 14:00 GMT. It’s hard a little bit to predict the impact of this event on the market ?!!!! buying the pair around 1.1133 – cautiously – could be an option ??!!! BUT since the daily time frame is very bearish , I prefer selling the pair around 1.1184 levels or within 1.1184/1.1227 range?!!!

EURUSD Continues Short Term Recovery On Flat Consumer Inflation

Further Reading

EURO-Dollar-min

EURUSD Daily Forecast May 31 2016

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Outlook in EURUSD remains on the downside as long as 1.1216 resistance holds on a daily closing basis. Support comes at the 1.1057 levels, a halt is likely but a cut would open 1.0955...

MARKET DATA

UPCOMING ECONOMIC EVENTS