For Traders

Analytical Reviews

13.02.202314:15 Forex Analysis & Reviews: EUR/USD under pressure. Traders await US inflation data

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EUR/USD

The euro is trading near 1.0660, the lower boundary of the range. Its top-down breakout is possible.

The main event of this week is the report on US consumer prices to be released on Tuesday.

There is a likelihood that the inflation rate may exceed market expectations.

In this case, the US market is expected to intensify the last week's correction.

Thus, the euro will break below 1.0660 and then head towards 1.0500.

How to trade? An aggressive strategy suggests that you can go long at current prices with a view to hitting the target area of 1.0800-1.0900.

If you are a conservative trader, it is worth waiting for the price to slide to the 1.0500 zone before opening long positions.

If inflation turns out to be low, the euro will gain value. In this case, it will be possible to sell the pair at 1.0900 and above.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.