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EUR/USD stalls at a key trendline ahead of the US NFP and CPI reports. What's next?
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A hot report will likely trigger a rally in the US dollar, with traders increasing rate hike bets.
Today, we have the NFP report.
We will still get another Eurozone inflation report before the September, and oil prices could still drop further once an Iran deal is confirmed.
EURUSD TECHNICAL ANALYSIS – 4 HOUR TIMEFRAMEOn the 4 hour chart, we can see more clearly the consolidation around the trendline.
UPCOMING CATALYSTSToday, we conclude the week with the US NFP report.