EUR/USD Technical Analysis: Fed’s decision likely to leave consolidation range vulnerable

34
  • The EUR/USD pair awaits the FOMC decision with a bullish tone, trading close to the 1.1445/50 resistance area but still in the range. Since late November it moved most of the time between 1.1400 and 1.1300, excluding some moments when it climbed to near 1.1450 but failed to hold and pulled back. It also traded under 1.1300, but it was rejected and rose back above. 
  • If the Fed’s tone moves the market, the range could be challenged. A break to the upside, with a consolidation on top of 1.1450 could signal a test of 1.1500, the next strong resistance. 
  • On the downside, a retracement to 1.1360 would be seen as normal. Below it could extend the slide to 1.1300. Under 1.1300 the bearish momentum is likely to raise, leaving 1.1260/70 exposed. It the slide continues, an approximation to YTD lows at 1.1215/20 could be expected.

EUR/USD 4-hour chart


	EUR/USD Technical Analysis: Fed’s decision likely to leave consolidation range vulnerable

EUR/USD

Overview:
    Today Last Price: 1.1428
    Today Daily change: 64 pips
    Today Daily change %: 0.563%
    Today Daily Open: 1.1364
Trends:
    Previous Daily SMA20: 1.1354
    Previous Daily SMA50: 1.1394
    Previous Daily SMA100: 1.1491
    Previous Daily SMA200: 1.1708
Levels:
    Previous Daily High: 1.1404
    Previous Daily Low: 1.1337
    Previous Weekly High: 1.1444
    Previous Weekly Low: 1.1269
    Previous Monthly High: 1.15
    Previous Monthly Low: 1.1216
    Previous Daily Fibonacci 38.2%: 1.1378
    Previous Daily Fibonacci 61.8%: 1.1362
    Previous Daily Pivot Point S1: 1.1332
    Previous Daily Pivot Point S2: 1.1301
    Previous Daily Pivot Point S3: 1.1265
    Previous Daily Pivot Point R1: 1.1399
    Previous Daily Pivot Point R2: 1.1435
    Previous Daily Pivot Point R3: 1.1466

LEAVE A REPLY

Please enter your comment!
Please enter your name here