EUR/USD is
still climbing slowly after breaking above 1.2750 and heading for target 1.2800
– 1.2830. There will be FOMC news later today, so the current situation is
likely only temporarily. Depending on the news we could finally see some
volatility on the market. Personally, I think that it will still likely reach
1.2830, but if it is unable to break above that resistance we might see a sharp
drop. Either way, waiting for such news always creates a lot of tension – just
like the calm before the storm.
Very Good post, now the doubt is large!
ReplyDeleteA lot of volatility caused by the FED.
ReplyDeleteThe pair traded sideways for much of yesterday session, as markets tentatively waited the release of the Fed rate decision after the close.
ReplyDeleteHowever, heading into the close of European session the markets positioned for a dovish Fed statement, with the USD weakening and the pair moving to fresh highs at 1.2770, but a hawkish statement coming out of the Fed sent this pair lower. The market should continue to go lower down to the 1.25 handle.
Very nice information, thank you very much.
ReplyDeleteStill in correction.
ReplyDelete