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    MARKET ANALYSIS AND NEWS EURUSD Rolling Over Market News

    EURUSD, 240 min

    German HICP was confirmed at -0.2% y/y in final February data, as expected and down from 0.4% y/y in January. The data hasn’t and won’t have market impact, although endorsing the ECB’s anti-deflationary bazooka of stimulus measures yesterday. Oil prices, which reached a 12-year low in January, have been driving inflation down.

    EURUSD rallied too far too fast and became overbought. Now this extreme condition has been unwinding and the pair looks like a sell. In my view a more ideal level to short this market would be my Sell Area between 1.1148 and 1.1185 but the price action seems to indicate that the pair could turn lower from levels near 1.1040. This level is a more aggressive entry option while those preferring to wait for a more conservative entry might prefer to wait for a further move into the Sell Area. In either case we consider short trades only if price action confirms the trade idea. Target: at 1.1050-1.1075.

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    Janne Muta

    Chief Market Analyst

    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.


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