The pair is currently trading at 1.0968 witnessing some short-covering and profit taking but the negative impact would leave the pair unstable for the next few days at the least.
Chart: EURUSD D1
Thursday, October 29, 2015
EURUSD Broke Support
The pair fell sharply yesterday after the FOMC did not take any action to change the interest rate, keeping it at its current near zero. The FOMC voted 9-1 to leave the Federal Funds Rate unchanged between zero and 0.25%. The Fed also hinted that a raise is still on the table before the end of the year. The hawkish stance sent the euro tumbling against the dollar, as it fell below 1.09 for the first time since early-August.
The pair is currently trading at 1.0968 witnessing some short-covering and profit taking but the negative impact would leave the pair unstable for the next few days at the least.
Chart: EURUSD D1
The pair is currently trading at 1.0968 witnessing some short-covering and profit taking but the negative impact would leave the pair unstable for the next few days at the least.
Chart: EURUSD D1
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It bounced off the support at 1.0896 but that is probably only temporary.
ReplyDeleteVery useful information! Thanks.
ReplyDeleteThat's good to know, thanks!
ReplyDeleteBig drop.
ReplyDeleteContinue testing 1.100 level.
ReplyDeleteWe may see a pullback before another move downward.
ReplyDeleteExcellent post! Thanks for sharing.
ReplyDeleteInteresting post.
ReplyDeleteclosing under the support 1.1000 gives the pair better chance to continue dropping.
ReplyDelete