EURHUF bearish scenario:In this pair, technical analysis shows a technical figure Flag. The Flag broke through the support line on 01/12/2021. EURHUF is forming a bearish formation on a daily chart. If the price holds below this level, we will have a possible bearish price movement with a forecast for the next 6 days with a target of 361.08. According to the experts, your stop loss should be around 371.98 if you enter this position.
Data-wise, the EU published the Consumer Price Index, which surged to a record high of 4.9% YoY in November, according to preliminary estimates. The core reading printed at 2.6%, much higher than the previous 2%, piling pressure on the European Central Bank to start trimming facilities.
On Wednesday, Germany will publish October Retail Sales, expected to have dropped by 2% YoY. Markit will publish the final readings of its Manufacturing PMIs for the EU.
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