Hello.
Today will be a busy day as we have the CoE, CPI and FOMC Minutes coming out.
Let’s take a look at the EUR/USD. As you can see, the pair has been pretty stagnant right before the opening hours of the European session.
We drew in a couple trend lines and we will wait and see what unfolds from the day’s trading and the reports coming out later on today.
Initially, it shows that the EUR/USD will potentially continue its downtrend, however, we’ll need to wait and see what unfolds. A strong break of either line may indicate a short-term breakout.
Good luck and remember to use your own money management and Risk vs. Reward ratio when placing any trade.
If you’d like more detailed analysis on the reports coming out, be sure to visit FXStreet.com.
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