EURUSD remains in downtrend from 1.1366, the price action from 1.0518 is likely consolidation of the downtrend. Further decline to test 1.0462 (Mar 13, 2015 low) support is possible, and a breakdown below this level will indicate that the long term downtrend from 1.3993 (May 8, 2014 high) has resumed, then the following downward movement could bring price to 0.9500 zone. Near term resistance is at 1.0873, only break above this level could bring price back to 1.1400 zone.
Article by ForexTime Governor Powell did his first FOMC today and to nobody’s surprise rates were lifted to 1.75% (1.50% prev), this lift of 25 basis points was in line with expectations, but the real show was on the question time and statement shortly after it all. Many in the market had been expecting Powell […]