Elliott Wave View: EURGBP Rally Expected to Fail

Yesterday, Consumer Price Index (CPI) values were published, indicating a slowdown in the rate of inflation in the USA. According to ForexFactory: → CPI month-on-month: actual = -0.1%, forecast = 0.1%, previous month = 0.0%; → CPI year-on-year: actual = 3.0%, forecast = 3.1%, previous month = 3.3%. The data confirming the slowdown in inflation […]

In focus today Today we get PMIs out of the big Western economies. In the euro area, we expect continued modest contraction in the service sector while the downward trend in manufacturing becomes gradually less steep. We will also keep an eye on the price indices, which moved higher in November. Particularly the IFO survey […]

EUR/USD is climbing higher above the 1.0800 level. USD/JPY surged above the 160.00 and 161.40 resistance levels. Important Takeaways for EUR/USD and USD/JPY Analysis Today The Euro started a decent increase above the 1.0780 pivot level. There is a key bullish trend line forming with support near 1.0820 on the hourly chart of EUR/USD at […]