This morning, after the US CPI report was released at 8:30 AM EDT, EUR/USD surged briefly due to a slightly weaker-than-expected inflation reading. Despite this, signs of rising inflation persisted, leading EUR/USD to rise sharply before quickly retreating.
EUR/USD has seen an intermediate top at 1.1830 since early July. The euro is under pressure due to looming US tariffs (30% on EU imports, effective August 1) and mixed economic signals, like Eurozone industrial production rising 1.7% in May (vs. 0.9% expected). The pound (GBP) and other currencies are also reacting to tariff concerns.
Taking a look at the 1hour chart, you can see we are still trading below a descending trendline. Taking everything into consideration, I'm positioning short sells whenever we get bounce higher.
That's it - That's all - Trade Safe
EUR/USD has seen an intermediate top at 1.1830 since early July. The euro is under pressure due to looming US tariffs (30% on EU imports, effective August 1) and mixed economic signals, like Eurozone industrial production rising 1.7% in May (vs. 0.9% expected). The pound (GBP) and other currencies are also reacting to tariff concerns.
Taking a look at the 1hour chart, you can see we are still trading below a descending trendline. Taking everything into consideration, I'm positioning short sells whenever we get bounce higher.
That's it - That's all - Trade Safe
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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.