A new lower low activates more declines. The Canadian inflation and the US data could be decisive tomorrow. Escaping from this pattern could bring us new opportunities. The EUR/USD price continues to stay higher as the FED delivered only a 50-bps rate hike after the US CPI and Core CPI reported lower inflation in November. –Are you interested to learn more about day trading brokers? Check our detailed guide- Fundamentally, the Euro received a helping hand from the German Ifo Business Climate yesterday. The economic indicator came in at 88.6 points versus 87.6 expected and compared to 86.4 in the previous reporting period. Today, the German PPI reported a 3.9% drop versus a 1.7% drop, while the Eurozone Current Account was reported at -0.4B versus -10.3B expected. Later, the Eurozone Consumer Confidence is expected to be at -22 points versus -24 points in the previous reporting period. Also, the US is to release important data. Housing Starts are expected to drop from 1.43M to 1.40 M. In contrast, Building Permits may drop from 1.51M to 1.48 M. Tomorrow, the Canadian inflation data and the US CB Consumer Confidence are seen as high-impact events and could shake the markets. In addition, the German Gfk Consumer Climate could also have an impact. Canada is expected to report lower inflation and move the EUR/USD pair. Get FREE Forex Signals Now! EUR/USD price technical analysis: Broadly ranging The EUR/USD pair found support around 1.0582 and rebounded. The 1.0662 and the 150% Fibonacci line represent upside obstacles. Failing to stay above the 150% Fibonacci line signals exhausted buyers. It’s trapped between the 1.0662 and the 1.0582 levels. Escaping from this pattern could bring new opportunities. –Are you interested to learn more about forex options trading? Check our detailed guide- A new lower low, dropping and stabilizing below 1.0582, can activate more declines. Failing to approach the 1.0662 signals that the upside movement could be over and that the sellers could take the lead. After escaping from the ascending pitchfork’s body, the price action signaled a potential larger correction. Still, a new leg down needs strong confirmation. Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% 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. Olimpiu Tuns Olimpiu Tuns Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms. View All Post By Olimpiu Tuns EUR/USD Daily share Read Next USD/JPY Price Analysis: Traders Recovering from BoJ Surprise Saqib Iqbal 1 month A new lower low activates more declines. The Canadian inflation and the US data could be decisive tomorrow. Escaping from this pattern could bring us new opportunities. The EUR/USD price continues to stay higher as the FED delivered only a 50-bps rate hike after the US CPI and Core CPI reported lower inflation in November. –Are you interested to learn more about day trading brokers? Check our detailed guide- Fundamentally, the Euro received a helping hand from the German Ifo Business Climate yesterday. The economic indicator came in at 88.6 points versus 87.6 expected and compared to 86.4 in the… 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.