$EURUSD Forecast: Euro looks vulnerable ahead of Fed rate decision by eren_fxstreet forex trading
The Relative Strength Index indicator on the four-hour chart dropped below 50, pointing to a bearish tilt in the short-term. Additionally, EUR/USD now stays below the 100-period SMA on the same chart, confirming the view that buyers stay on the sidelines.
Strong resistance seems to have formed at 1.0150, where the Fibonacci 23.6% retracement level of the latest downtrend and the 100-period SMA is located. If that level turns into support, buyers could target 1.0200 and 1.0230 . If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto market contracts as the Fed's next interest rate decision loomsGlobal crypto market cap sinks below $1 trillion ahead of Fed's interest rate decision.
Read more »
GBP/USD Forex Signal: Inverted H\u0026S Pattern Signals BreakoutThe $GBPUSD price tilted lower after a weekend of chaos at Dover and as investors wait for the upcoming Fed interest rate decision.
Read more »
USD/JPY Reverses Ahead of Monthly Low with Fed Rate Hike on TapUSD/JPY halts the series of lower highs and lows from last week to mirror the rebound in UST yields, and the FED interest rate decision may lead to a near-term advance in the exchange rate.
Read more »
EUR/USD Forex Signal: Inverted Head \u0026 Shoulders FormsThe EURUSD remained in a tight range on Tuesday morning as investors waited for the upcoming US consumer confidence data and FOMC decision.
Read more »
EUR/USD sees more gains above 1.0150 amid subdued DXY, Fed policy in focusThe EUR/USD pair is advancing strongly in the Asian session as the US dollar index (DXY) is displaying a subdued performance ahead of the interest rat
Read more »
EUR/USD Price Analysis: Further consolidation appears in storeEUR/USD fades the initial pessimism and refocuses on the upper end of the recent range near 1.0260. The current consolidative mood carries the potenti
Read more »