Wednesday 12 October 2016

EUR/USD Is Still Dropping




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.

5 comments:

  1. 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.

    ReplyDelete
  2. Thank you for the relevant information.

    ReplyDelete
  3. Strong downward momentum may result further decline.

    ReplyDelete