EURUSD: Next Target around 1.1045?

OANDA:EURUSD   Euro / U.S. Dollar
Today's session will be very important for EURUSD pair, especially after the data that will be released later. Having said that, the trend is bullish on intraday chart and the next bullish target should be around 1.1045 area. From a technical point of view, this rally was supported by the bottom swing formed around October 13th (see analysis below).
The dollar should fall further if U.S. consumer confidence data at 1500 GMT is weaker than expected...

(click on chart below)

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🔴 Trend is still bullish.
Traders are now eyeing the U.S. core personal consumption expenditures (PCE) price index - the Fed's preferred measure of inflation - this week for more confirmation that inflation is slowing.
PCE tops off a slew of other key economic events this week, including flash inflation data from major euro zone economies, with bloc wide data due Thursday, Chinese purchasing managers' index (PMI) data and an OPEC+ decision on crude output.

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By Anonymous Banker
A TradingView Fan since 2015

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