Affectation is playing alternate swindle when it comes to news these days. 

 The European Union CPI for January was verified at5.1 vs a December reading of 5. This was a record high since the Euro Area was created. Remember that the ECB targets 2 affectation. Still, Christine Lagarde isn't one to wince down from agitating that the affectation is temporary. She has lately said that she's confident that affectation will fall back over the course of the time, as canvas can not continue at current prices. She also noted that she was upset about choking off the recovery. Note that the ECB meets again on March 10th. Will Lagarde still affordable affectation? 

 

 Still, affectation is playing alternate swindle when it comes to news these days. The irruption of Russia into Ukraine is dominating the captions. The rearmost information, that the EU will hold an exigency peak on Thursday to bandy the situation, has helped to drive EUR/ USD lower. In addition, it has been reported that the US believes Russia is intending a full irruption of Ukraine within 48 hours and that they may use dumdums in an attack on Kiev. 


 As the captions came across the cables, the US Bone began to move higher in a “ flight to safety” trade as threat vended off. EUR/ USD moved lower as the DXY went shot. EUR/ USD was trading in a long- term over leaning channel, still broke above it after the ECB meeting on February 3rd. The brace has been drifting lower since and is presently hugging the top, over leaning trendline of the channel near1.1290. EUR/ USD has also been oscillating around the 50 Day Moving Average at1.1332. In addition, notice the long upper wicks on the diurnal candlesticks. These indicate that buyers were in early in the day, but merchandisers came in latterly in the session to push price lower to close the day. 

 

 The long wicks also suggest that price could move lower. First support is the top of the channel trendline near1.1290. Just below there's a convergence of support at the61.8 Fibonacci retracement from the January 28th lows to the February 10th highs and vertical support, between1.1265 and1.1274. Coming support is the November 24th, 2021 lows at1.1186. Still, if the political geography changes, EUR/ USD could go shot. First resistance is at the original highs of1.1392. Above there's strong vertical resistance and the cerebral round number resistance at1.1500. If price breaks above1.1500, price can move over to the 200 Day Moving Average at1.1628. 


 The EU CPI for January was verified at5.1. Still, with the ECB meeting still 3 weeks out, the focus for EUR/ USD is going to be the Russia/ Ukraine captions. Negative captions should profit the US Bone, which would push the EUR/ USD lower.