FXOpen
Wednesday was a big day for traders and investors.
Like expected, the FED maintained another US$ 10 Billion reduction in its bond buying monthly.
Interest rates remain unchanged and the dollar gained muscle with Yellen's hawkish tone.
US Stock market closed lower that day and currency pairs like EURUSD or USDCHF are dominated by bears.
According with Yellen, interest rates would continue to increase during next six months and QE shouldn't end till this time.
So, what is the outlook for Euro now?
No doubt that EURUSD will continue to be traded by bearish traders and we can see 1.3800 at support zone.
The main peak reached by euro was placed at 1.3966 – Resistance level.
There is no reason to believe that this currency pair will follow bullish trend for next week.
Our outlook: Bearish
Resistance levels:
R1 – 1.3918
R2 – 1.3898
Support levels:
S1 – 1.3831
S2 – 1.3800
Pay attention to the following news:
1. European Council meeting
2. US Continuing Jobless Claims
3. US Initial Jobless Claims
4. US CB Leading Indicator (MoM)
5. US Existing Home Sales (MoM)
6. US Existing Home Sales Change (MoM)
7. US Philadelphia Fed Manufacturing Survey
8. US Bank Stress Test Info
Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips. Open your FXOpen account now or learn more about trading forex with FXOpen.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Stay ahead of the market!
Subscribe now to our mailing list and receive the latest market news and insights delivered directly to your inbox.
Latest articles
US Dollar Strengthens Following Trump’s Tariff Decision
US President Donald Trump has announced his decision to impose new tariffs:
→ For Canada, tariffs are set at 35%. They are scheduled to take effect on 1 August, although negotiations may take place before this date, potentially influencing Trump’s
Coinbase (COIN) Shares Reach All-Time High
According to the chart of Coinbase Global (COIN), the share price of the cryptocurrency exchange has reached a historical all-time high (closing price).
The bullish sentiment has been supported by the following factors:
→ Bitcoin price rally. Yesterday, we analysed the
Euro in Focus – Markets on Alert
The euro is holding firm after a notable rally in recent weeks. Both the EUR/USD and EUR/JPY currency pairs are showing signs of consolidation, as markets cautiously assess the outlook against the backdrop of a packed economic calendar.