17 Jun 2015
EUR/USD into today’s FOMC meeting – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, gives the outlook for EUR/USD into the FOMC meeting scheduled for later in the day, noting that a hawkish move by Yellen might drag the pair lower towards 1.1160 while a dovish tone will expose 1.1320/40.
Key Quotes
“…the 4 hours chart shows that the upside is favored, with the price above its 20 SMA, and the technical indicators aiming higher above their mid-lines, whilst a short term ascendant trend line offers a strong support in the 1.1210 price zone.”
“Nevertheless, upcoming direction will depend on the US Central Bank. Should the FED hint a rate hike for September or earlier, the USD can surge across the board, with a break below the mentioned 1.1210 favoring a decline towards the 1.1160 region.“
“A disappointment coming from Yellen on the other hand, should lead to an advance up to the 1.1320/40 region that can later extend up to 1.1385.”
Key Quotes
“…the 4 hours chart shows that the upside is favored, with the price above its 20 SMA, and the technical indicators aiming higher above their mid-lines, whilst a short term ascendant trend line offers a strong support in the 1.1210 price zone.”
“Nevertheless, upcoming direction will depend on the US Central Bank. Should the FED hint a rate hike for September or earlier, the USD can surge across the board, with a break below the mentioned 1.1210 favoring a decline towards the 1.1160 region.“
“A disappointment coming from Yellen on the other hand, should lead to an advance up to the 1.1320/40 region that can later extend up to 1.1385.”