EUR/USD Trade the Breakout
In light of Fed Rates being increased in the third quarter, and with insight into future fed rates, we should see the USD strengthen considering the upcoming events.
US10Y are around 3% ahead of the events. A hawkish hike can send them to new multi-year peaks, carrying the USD with them
EEUR/USD could continue its move downwards.
The FOMC meeting should propel EEUR/USD to break through the 4hr trendline.
Resistance Level: 1.18200, 1.17941
Support Level: 1.16168, 1.15161
US10Y are around 3% ahead of the events. A hawkish hike can send them to new multi-year peaks, carrying the USD with them EEUR/USD could continue its move downwards.
The FOMC meeting should propel EEUR/USD to break through the 4hr trendline.
Resistance Level: 1.18200, 1.17941
Support Level: 1.16168, 1.15161
Note
Congrats to all those who caught the breakout, now look out as price has just hit support level, could see a pullback now
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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.