The inflations rate increased below expectations creating speculations about Fed decision on Tapering Fed’s meeting will take place next week CPI released apparently proved that inflation was a transitory phenomenon Although the price is still above 1.18, a small downtrend seems to shows certain optimism from investors. The EUR/USD price analysis suggests a neutral to bearish price action as the pair failed to maintain yesterday. Overall, the price is stagnant. -Are you looking for automated trading? Check our detailed guide- This Tuesday, the most important event on the economic calendar took place with surprising data about the inflation rate in the US. The Consumer Price Index revealed that the Core inflation rate of MoM was 0.1% instead of 0.3% expected, and the Inflation rate. MoM was also lower than expected, reaching 0.3% instead of 0.4%. In addition, the annual Core inflation rate was also lower than expected, 4% instead of 4.2%. Finally, YoY inflation fulfilled market expectations but also showed that inflation seems to be under control. This data created speculations about when the Fed will decide to taper since the released IPC appears to give reason to Fed Chairman Jerome Powell proving that inflation was transitory, which reduces the urgency to taper. However, the pair retraced on Tuesday, indicating that the market is still optimistic about the Fed meeting next week. Get FREE Forex Signals Now! For the rest of the week, the development of the pair will still depend mostly on the economic announcements from US financial authorities since the comments from European decision-makers as Christine Lagarde last week and ECB executive board member Isabel Schnabel this Tuesday didn’t impact the pair. On September 16, the Retail Sales Index MoM and on September 17, the Michigan Consumer Sentiment and the Core Inflation on the Eurozone will be published. The price has been moving sideways since the beginning of the week. If a breakout occurs, an uptrend could take the price to test the resistance level of 1.909 again. Otherwise, a downtrend below the august low would bring attention to the level of 1.1580. -If you are interested in forex day trading then have a read of our guide to getting started- EUR/USD price technical analysis: Sideway movement finds resistance After the attempt to surpass the July high (1.1909), the pair may face difficulties to stay over the 50-day EMA. From a wider perspective, the rebound from August may be seen as a correction on a longer trend. The price remains below the 200 MA on the hourly chart. We find resistance levels at the 1.1845 and 1.1850 levels. Looking to trade forex now? Invest at eToro! Trade Forex Now! 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal EUR/USD Daily share Read Next Binance Coin price recovers slightly: Is A Recovery On The Cards? Gerald Fenech 1 year The inflations rate increased below expectations creating speculations about Fed decision on Tapering Fed’s meeting will take place next week CPI released apparently proved that inflation was a transitory phenomenon Although the price is still above 1.18, a small downtrend seems to shows certain optimism from investors. The EUR/USD price analysis suggests a neutral to bearish price action as the pair failed to maintain yesterday. Overall, the price is stagnant. -Are you looking for automated trading? Check our detailed guide- This Tuesday, the most important event on the economic calendar took place with surprising data about the inflation rate in… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.