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EURUSD Stuck in a rectangle, eyes on US CPI

FX:EURUSD   Fx Euro/Dolar U.S.
US Core CPI will be released at 12:30 GMT

H1 CHART TIME FRAME:
Stuck in a narrow range of 40 pips. Rectangle Pattern.
On the Downside: 1.23000,1.22700 and 1.22400 are the support levels.
On the Upside: 1.22590, 1.23900 and 1.24200 are the resistance level

H4 CHART TIMEFRAME:
RSI NEUTRAL
ABOVE EMA 200, TESTING EMA 50 AND EMA 100 RESISTANCE

https://uk.tradingview.com/x/ghvMDyBL/

Conclusion:

US CPI may give us a fresh direction to trade. We must wait for the breakout of the rectangle and enter a trade in the same direction of the breakout.

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