Stay 
Trading Conditions
Products
Tools
If the debate between Donald Trump and Joseph Biden was a real disaster, yesterday's debate with Kamala Harris was much smoother and didn't cause any panic. So, the markets were able to ignore them. Investors can now calmly focus solely on U.S. inflation, especially since the rate of consumer price growth is expected to slow from 2.9% to 2.6%. This would likely convince the markets of a 50-basis-point cut in the Federal Reserve's interest rate. Thus, there is a high likelihood of a significant weakening of the U.S. dollar.
After testing the previous week's local low, the EUR/USD pair has resumed its corrective cycle. However, this movement didn't lead to any radical changes; the price merely returned to the upper deviation area of the psychological level of 1.1000/1.1050.
In the 4-hour chart, the RSI technical indicator is moving in the lower 30/50 range, indicating bearish sentiment among market participants.
Regarding the Alligator indicator in the same time frame, the moving average lines point downwards, which coincides with the direction of the price movement.
Stabilizing the price below the 1.1000 mark is necessary for the next phase of the decline. However, this would only shift the local support level to the lower region of the psychological range. Until that happens, traders are considering a price rebound as the main scenario on the market.
The complex indicator analysis suggests a price rebound in the short term, while indicators point to a downward cycle in the intraday period.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
