After reaching the 1.0970 level, EUR/USD has pulled back strongly and
currently, price is hovering below the 1.09 level.
With the super-important FOMC event on Wednesday, major market players
are on the sidelines here. Technically, the dynamic support on the 4H chart
is holding so far.
We recommend traders to stay away from executing any new trades before
the FOMC event. The key resistance levels are at 1.10 and 1.1140. If price
spikes to any of these key levels during the event, we may consider selling EUR/USD
provident there is bearish price action.
currently, price is hovering below the 1.09 level.
With the super-important FOMC event on Wednesday, major market players
are on the sidelines here. Technically, the dynamic support on the 4H chart
is holding so far.
We recommend traders to stay away from executing any new trades before
the FOMC event. The key resistance levels are at 1.10 and 1.1140. If price
spikes to any of these key levels during the event, we may consider selling EUR/USD
provident there is bearish price action.
Note
As expected, the support level is unbroken so far.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.