17.07.201916:43 Forex Analysis & Reviews: EUR/USD for July 17,2019 - Double bottom confirmed

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The EURUSD has been trading sideways in past 24 hours. Anyway, there was the U turn (double bottom) in the background, which is sign that EUR may trade higher towards the resistance levels at 1.1239 and 1.1254.

Industry news:

The Consumer Price Index (CPI) rose 2.0% on a year-over-year basis in June, down from a 2.4% increase in May, largely due to lower month-over-month energy prices. Excluding energy, the CPI rose 2.6% year over year. Prices increased year over year in all eight major components.

On a seasonally adjusted monthly basis, the CPI declined 0.1% in June, following a 0.3% gain in May.

Technical view: .

On the H1 time-frame I found that there is bull divergence on the % Bollinger oscillator, which represents potential rally. The volume for today is light and there is not much going on so far. Anyway, rejection of the support at the price of 1.1200 is sign that buyers are still in control and that you should watch for buying opportunities with the first target at the price of 1.1239.

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