After EUR/USD began rising from the support at 1.11227 when FED announced the interest rate last Wednesday this move to the upside continued in the following days and continues today.
The trendlines that I drew>>> before the news came out and before the Janet Yellen press-conference, especially the resistance trendline, still appear valid. What is more, the pair is close to reaching its target – the resistance around 1.12850 - 1.13000 and I have little doubt it will reach that level.
In my opinion, it is still too early to make a proper prognosis what will happen once the pair reaches this target, but the way it develops at that level will add some clarity to the issue and any trading decisions that follow will depend on said developments.
Very helpful analysis.
ReplyDeleteThank you for the analysis.
ReplyDeleteGood post.
ReplyDeleteGood analysis!
ReplyDeleteThank you for sharing!
ReplyDeleteThe pair continue ranging.
ReplyDeleteGood posts, very helpful for all traders.
ReplyDelete