Technical Outlook:
EURUSD approaches major liquidity on our hourly setup. We see the pair lower to our PWH & LRL levels which indicates a push to the upside very soon with a high level of bidding liquidity attending the order books by institutions.
Fundamental Outlook:
US headline and core inflation is due tomorrow, the consensus suggests a slight increase in overall inflation to the US economy, which is further proving another rate hike is possible by the fed.
As a result, speculation for a smaller Fed rate hike may keep EUR/USD afloat as European Central Bank (ECB) President Christine Lagarde reiterates that the Governing Council expects “to raise rates further,” with the head of the central bank going on say that “withdrawing accommodation may not be enough to bring inflation back to our target” during a recent lecture.
EURUSD approaches major liquidity on our hourly setup. We see the pair lower to our PWH & LRL levels which indicates a push to the upside very soon with a high level of bidding liquidity attending the order books by institutions.
Fundamental Outlook:
US headline and core inflation is due tomorrow, the consensus suggests a slight increase in overall inflation to the US economy, which is further proving another rate hike is possible by the fed.
As a result, speculation for a smaller Fed rate hike may keep EUR/USD afloat as European Central Bank (ECB) President Christine Lagarde reiterates that the Governing Council expects “to raise rates further,” with the head of the central bank going on say that “withdrawing accommodation may not be enough to bring inflation back to our target” during a recent lecture.