The bear attack is far from over as this latest correction might be preparation to put the pair even lower - possibly below multi year low below 1.04. If the Interest rate goes up on Wednesday then we might witness a continuation of the sell off move and visit levels below 1.04.
However, it is possible that the move is already over and even if we get a raise we might not see a decline in price as the depreciation already happened.
Whatever the case, Wednesday will be the day where we find out the potential EUR/USD level for the year end.
Chart: EUR/USD D1
I think it rebounded from 1.0500.
ReplyDeleteLet’s see if Fed interest rate hike spurs more risk appetite tomorrow.
ReplyDeleteIt may rise further before another drop.
ReplyDeleteAll eyes are on FED now.
ReplyDeleteThe pair has been too volatile lately.
ReplyDeleteGood analysis!
ReplyDeleteGood post. Very helpful.
ReplyDeleteConsolidation continues.
ReplyDelete