Tuesday, 7 April 2015

EUR/USD Consolidation Continues




EUR/USD tested the resistance around 1.1030 – 1.1040 repeatedly but failed to break above it and started falling again. The pair is likely headed for target 1.0770 where there is a pretty strong support level. That said, let us not forget that tomorrow U.S. Fed will release Minutes from March 17-18 FOMC Meeting. Such events almost always provoke a lot of volatility on the market, so depending on the news I wouldn’t be surprised to see the pair breaking above the aforementioned resistance at 1.1030.
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6 comments:

  1. Unknown7 April 2015 at 11:59

    Let's see how tomorrow's FOMC minute will effect the price.

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  2. Anonymous8 April 2015 at 02:09

    All eyes turned to the FOMC minutes later today and one of two things can happen, a Hawkish comment setting the date for interest rate hike and pushing the EURUSD to year lows or a Dovish approach that may pull the pair to the 1.1034 resistance zone.

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  3. Unknown8 April 2015 at 20:09

    good pullback.

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  4. Unknown9 April 2015 at 13:34

    I do agree with you too.

    ReplyDelete
  5. Unknown10 April 2015 at 19:23

    Big week ahead for this pair.

    ReplyDelete
  6. Unknown11 April 2015 at 13:56

    Hrmm... Very important post.

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