Technical Analysis:
The K-line has already broken below the key head-and-shoulders neckline at the 1.11 level. The trading strategy should primarily focus on shorting upon a pullback. There is still pressure from the trendline above the current price, so attention should be paid to the resistance effect below the neckline.

Fundamental Analysis:
Considering that the CPI in Germany has already impacted the Euro, the impact of today's CPI from France and the Eurozone is relatively smaller. The key factor is the U.S. PCE, followed by the German unemployment rate. Currently, the PCE is expected to be higher than the previous value, and as long as it meets expectations, the dollar will likely continue the upward trend from yesterday's GDP data. Expectations for an interest rate cut will also continue to decline. The EUR/USD pair is mainly bearish on a pullback.

Selling on the high side, aligning with intraday data

Aug 30 2024

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