Forex Market Highlights

In the forex market, EURUSD remains steady near 1.0852 mark, with the focus on US Consumer Price Index statistics with Italian sales at retail figures.
GBPUSD is up slightly on 1.2681. With the RICS House Price Balancing index expected to have an influence on the sterling.
The DXY is nearing a pivot around 104.20 level and inflation in the US information is key to subsequent interest rate determinations.

The next economic indicators for forex – particularly the US core inflation & CPI statistics, will be scrutinized. EURUSD is now. Which is hovering near 1.0852 mark, suggesting a modest 0.04 percent drop, having a pivot mark near 1.0839 mark The sterling dollar exchange rate is now priced around 1.2681, up 0.03 percent. The marketplace is currently focused on coming occurrences that might influence FX prices.

At this point, the US base CPI & CPI numbers are forecast to rise by 0.3% for the MoM. Somewhat less than the month before. 0.4 percent, with the yearly CPI rising by 3.2 percent to 3.4 percent. Such inflation indices will assist in shape the Fed’s policy choices, as outlined in the subsequent FOMC minutes of meetings.

EURUSD Technical Outlook

The EURUSD remained near 108.53 mark marginally lower. Having the pivot point located on 1.0839, barrier exists between 1.0885 & 1.0939 levels. Showing probable higher move. Supports has been set around 1.0800 area and additional declines potentially reaching 1.0762 zone.

The duo has a wary stance, with important levels around 1.0844 & 1.0819 close to the 50 & 200 D- EMAs, accordingly. A strong posture over 1.0844 mark might point to an upward move, whilst sliding beneath may end in large selling. Showing a delicate equilibrium of market emotions.

DXY Technical Outlook

The DXY fell little to 104.198, a 0.01 percent fall. It hangs close to the 104.201 the pivot point, showing uncertainty. Major resistance points at 104.45, 104.78, then 105.09 may limit upward advances.

Source: TradingView

Supporting is located around 103.89, 103.55, then 103.20 level, wherein possible recoveries might develop. The 50 & 200 D- EMAs are tightly matched on 103.88 & 103.8 mark each. Giving the DXY a cohesive picture.  The marketplace’s posture is negative beneath the 104.20 level.

GBPUSD Technical Outlook

The GBPUSD duo crept higher at 1.2681, gaining 0.03 percent. The duo’s strength near its 1.2664 pivoting point implies that further advances are possible, amid barrier near 1.2710, 1.2750, then 1.2802 level.
To the negative side, support have been created around 1.2593, 1.2540, & 1.2503. Implying that interest in buying may return. The EUR remained over its 50 D- EMA of 1.2641 as well as over the 200 D- EMA of 1.2663. Reflecting a cautious positive view. The market’s posture is optimistic for so long as the price stays over 1.2664mark. Yet a drop under this area may result in increased pressure to sell.

Daily Technical Indicators & Signals

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