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EURUSD Overview: The U.S. Data beats expectations

EURUSD Overview: The U.S. Data beats expectations

The U.S. Housing Data and Initial Jobless Claims come above the expectations.

Fed’s Kashkari is crossing the wires saying that he is not sure that cutting rates would do much to inflation expectations:

Would need to see data showing real economic weakness before cutting rates.
Tariffs could boost inflation temporarily.
An unexpected rise in wages could help get inflation back to symmetric 2% target.

EURUSD breaks the triangle. The pattern is a bearish continuation pattern.

USD remains to be the strongest currency in the basket.

USD Bulls will try to break 1.11650 Support. Breakout of this level would send the pair 1.11400, 1.11200 and 1.10900.

We have an emerging bullish pattern and I will publish the details later. Bearish pressure remains as long as the pair is trading below 1.12300.



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EURUSD: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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