• Steady after closing down 0.27% with the U.S. dollar 0.35% higher

• Inflation at the lowest level for 3 years sets the scene for a September cut

• ECBWATCH prices 38.4pt October and 59.8pts in cuts for December - dovish

• Charts; daily momentum studies fall, 21-day Bollinger bands contract

• 5, 10 & 21-day & week moving averages conflict - signals are now neutral

• A close below 1.0996 0.382% June/August rise would be a bearish signal

• A close above the 1.1122 10-day moving average would be a positive signal

• 1.1100 574mln are the only significant Sep 2nd close strikes

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