- EUR / USD price analysis shows the euro recovery from some of their losses.
- The euro acquired as traders expected the outcome of the meeting between Trump and Putin.
- The American PPI rose 0.9% by 0.9% by weight of 0.2%.
EUR / US $ price analysis shows the euro recovery from some of their losses as merchants by watching peace talks between Trump and Putin. Meanwhile, the dollar was gained on Thursday after they discovered warmer from the expected wholesale inflation in July, which led to a falling role on schedule on the supply rates.
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The euro acquired as traders expected the outcome of the meeting between Trump and Putin. The American president threatened serious consequences for Russia if he did not work at the end of the war in Ukraine. Progress towards the peace agreement would be Bikov for the euro.
Meanwhile, the dollar has found support on Thursday after surprisingly wholesale inflation numbers. According to data, the American PPI rose 0.9% by 0.9%. Prices of manufacturers are an indicator of future consumer prices. Therefore, policy makers can become careful about reducing feet.
The report dotted the hope that September 50-BPS has shrunk in September. However, market participants continue to expect a small cutting of the course. The labor market has significantly slowed and consumer prices were softer than expected.
EUR / USD Key events Today
- American Core Retail M / M
- American retail sale m / m
- American Preliminary Uom Consumer Sense
- American preliminary inflation expectations of UOM
EUR / USD Technical Analysis Price: Shallow Postcreint Points on a weaker momentum
On the technical side, EUR / USD price trades above 30ths, with RSI above 50, suggesting Bikovska bias. Since the bulls took the indictment near the level of support from 1,145, they maintained the trend, making higher high and lower. However, the SMA did not respect the support line. Instead, the price took a few times a line, showing that it was a shallow trend.
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Moreover, breakthroughs show that the bears are quite strong and continue to challenge the Usttrend. In addition, although the price made a higher high, RSI made lower, indicating a weaker petition momentum. At the same time, the RSI made lower lower, while the price made more. This is a sign that bears become stronger. However, because the price above SMA, it could climb the new high. Therefore, EUR / USD can resolve resistance level of 1,1750.
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