KEY GRAPHIC ELEMENTS
Forex traders are awaiting the publication of inflation data for the euro zone through the CPI and CPI Core this morning at 11:00 a.m. French time, followed by a speech from the President of the European Central Bank. This afternoon macroeconomic statistics will come from the United States with the publication of building permits at 2:30 p.m. French time. Geopolitics always weighs on investor morale and limits initiatives. Following an explosion at a hospital in Gaza, which Israel and the Palestinians mutually blamed, Jordan canceled a summit during which US President Biden was to meet with the leaders of Jordan and Egypt, as well as Mahmoud Abbas, the president of the Palestinian Authority. Investors will therefore closely scrutinize negotiations in the region while keeping an eye on macroeconomic statistics. In the meantime, the European currency should remain neutral in its range, awaiting a substantial catalyst.
MEDIUM TERM FORECAST
Considering the key graphical factors that we have mentioned, our opinion is neutral in the medium term on the Euro Dollar (EURUSD).
We will maintain this neutral opinion as long as Euro Dollar (EURUSD) prices are positioned between support at 1.0550 USD and resistance at 1.0693 USD.
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