The EUR/USD
move to the downside continued today just as I expected it would and the pair
has almost reached its target at the 1.1000 level. Whether it will bounce off
of it or it will break below that support remains to be seen, but either way,
we should keep in mind that later today we can expect major volatility due to
the fundamentals about to be released, namely the announcement of the FOMC
meeting minutes. Whether there will be a rate hike or not is uncertain,
especially in the light of the presidential elections that are about to be held
in a few weeks, but there is certainly the hope for an indication that a rate
hike is impending in the near future, considering the fact that the
last such hike was in December last year.
Market participants continue to move within formed trend of the last week, buying the dollar on expectations of a rate hike at the end of the year.
ReplyDeleteThank you for the relevant information.
ReplyDeleteThe drop seems to continue.
ReplyDeleteInformative read, thanks.
ReplyDeleteStrong downward momentum may result further decline.
ReplyDelete