EURUSD Forecast Ahead of German CPI MoM (Sept) !

EURO data
EURO data

The German Consumer Price Index (CPI) measures the changes in the price of goods and services purchased by consumers.

Usual Effect: A high reading or a better than expected number is seen as positive for the EUR, while a low reading is negative.

Frequency: Released monthly, around the end of the current month.

Last Read : 0.0%

Expectations :-0.1%

Volatility : High Volatility

It will be be published today at 12:00 GMT  , you can follow this event live @ goo.gl/LOceky

Forecast : we have 5 scenarios for the EUR :

  •   Scenario one : Between  0.0% -2.0% , will bring sideways move for the EUR.
  •  Scenario two : Between 0.0% 0.2% , will bring light bullish move for the EUR.
  •  Scenario three :above  0.3% , will bring strong bullish move for the EUR.
  •  Scenario four : Between -0.2%:-0.4% , will bring light bearish move for the EUR .
  •  Scenario five : Below 0.5- , will bring strong bearish move for the EUR.

Market Impact over EURUSD :

By taking a quick look to the 4 hour chart below , we can easily notice that the pair is under pressure , looks like the pair’s trying to print a resistance around  1.2700 levels , next main resistance comes at the 1.2765 levels , anyway , above 1.2675 will bring rebound towards the 1.2820/1.2850 levels , last level seen at the 1.2890 levels…

  • Any release within -0.2% -0.2 could bring sideways move followed by a slow decline (resistance 1.2700) /
  • Any release below – 0.3% will accelerate the bearish move  towards the 1.2660 levels  where a cut will open 1.2630 followed by  1.2600 levels..
  • Any release above  0.3% could challenge 1.2765 levels , the pair might spike around this level before falling ..

In all , you need to keep an eye on US Pending Home Sales (MoM) , It will be published today at 14:00 GMT , a strong German data , 0.3% and above , followed by weak US data like -3.2% and below , could take out  the 1.2765 levels , so keep that in mind !!!!

 

Market Forecast Ahead of German CPI MoM (Sept) !

MARKET DATA

UPCOMING ECONOMIC EVENTS