basquefxb1

EUR Strength Based on Strong CPI

Long
OANDA:EURUSD   Euro / U.S. Dollar
EUR is strong due to it beating it's CPI projection 1.9% vs 1.8%. This is in contradiction to Draghi's speech. USD missed on GDP data this morning 0.7% vs 1.2%. So we can expect some weakness for USD. There is also a budget debate occuring in the United States today. This could lead to further weakness. Since it is Friday be wary of profit taking.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.