EURUSD

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EURUSD

On the first trading day of the week, we watched the Classic Dollar Index struggle to stay above its 34-day average. Recently, both the index and the parities (EURUSD and GBPUSD) have been in a certain fluctuation trend. Although there is no significant change in their medium-long term outlooks, short-term movements can create differences in instant reactions. In this respect, there is a data-driven course in short-term outlooks. At this stage, the US CPI data, which we will reach in the middle of the week, may cause sharp changes in the index and parities. We will follow the data result and the timing of the Fed rate cut condition in terms of whether this change will support the trend view. When we return to today, the employment market data from the UK and inflation (PPI) data from the US and the Fed Chair Powell speech attract attention. The 1.0789 level can be followed in intraday upward movements. If this level is exceeded, the 1.0794, 1.0801 and 1.0806 resistances may become important. In case of possible pullbacks, 1.0782, 1.0777 and 1.0770 will be monitored as support levels. Support: 1.0777 – 1.0770 Resistance: 1.0794 – 1.0801