EUR/USD Signal 10/11: Rally Stalls As Crude Oil Drops

EUR/USD Signal 10/11: Rally Stalls As Crude Oil Drops

MENAFN- Daily Forex) Bearish view

- Sell the EUR/USD pair and set a take-profit at 1.1150. Add a stop-loss at 1.1250. Timeline: 1-2 days.

- Buy the EUR/USD pair and set a take-profit at 1.1250. Add a stop-loss at 1.1150.

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The EUR/USD exchange rate was relatively unchanged on Tuesday morning as traders focused on the upcoming US consumer inflation numbers and as energy prices jumped. It was trading at 1.12127, a few pips below Monday's high of 1226 to Publish Consumer Inflation DataThe EUR/USD pair wavered as investors waited for the upcoming US consumer inflation report. Economists expect the report to show that the headline CPI eased from 0.6% in September to 0.3% in October, while the core figure dropped from 0.3% to 0.2%. Unlike in other reports, the Bureau of Labor Statistics (BLS) will not publish the annualized figure because of last year's government shutdown.The US inflation report will be important as it will provide hints on what to expect in the next meeting in December. Economists expect the bank to hike interest rates by 0.25% in that meeting, e...