The euro continues to be supported by traders after ECB member Peter Praet said eurozone inflation was improving and this is in support of the ECB's tightening of monetary policy plans.
The signals showing that inflation is approaching our goal are improving and support our confidence that inflation will reach a level close to 2% over the medium term.
Wage growth is a major driver of this better prospect and further supports the intentions of the next ECB meeting to specify a date for the termination of QE.
Technical EUR/USD forms an inverted H & S in a strong support area. The price penetrates the short-term downward channel and activates the figure. There is also a false breakthrough on a major horizon that forms the head of the formation. In addition, the Sequential counts 5 on top - the impulse is at an intermediate stage of development. DeMarker buys a purchase alert.
Source: Bloomberg Pro Terminal
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