8 Jul 2015
Worried Fed? EUR/USD bottom at 1.1040; resumes its slow Greece track
FXStreet (Barranquilla) - The Fed is also worried about a hike rate; so the EUR/USD accepted the bull invitation and advanced 30 pips from 1.1040. Not much, but the pair is heading to daily highs around 1.1090.
According to the FOMC minutes published on Wednesday, a number of Fed officials warned against a premature Fed rate hike. The Fed is also worried about Greece and China; however, the minutes said the FOMC saw conditions still approaching those warranting a liftoff.
Greece and EU: Champion of rumors, lord of players
And then, market doesn't forget the Greece drama: champions of rumors, lord of players. Investors are now wondering what will happen next weekend; The common question is what will be the weekend outcome? "A deal by Sunday or Start of Grexit?" Economist Nouriel Roubini clearly says: "Up to Tsipras."
EUR/USD Forecast
Currently, EUR/USD is trading at 1.1072, up 0.56% on the day, having posted a daily high at 1.1093 and low at 1.0974. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
Long story short, the US Dollar Index performed another inside day; however, as reported earlier, the Dollar bias seems to have more upside left up to the 98.00 to 99.50 area. It means EUR/USD down.
On the other hand, FXStreet Chief Analyst Valeria Bednarik Bednarik commented that the EUR/USD needs "to advance above the 1.1120 resistance, to be able to extend its gains over the upcoming sessions." Otherwise... downside.
EUR/USD Levels
As for the short term, if the pair extends gains above 1.1090, next resistances are at 1.1135, 1.1120 and 1.1170. To the downside, supports are at 1.1040, 1.1000 and 1.0915.
According to the FOMC minutes published on Wednesday, a number of Fed officials warned against a premature Fed rate hike. The Fed is also worried about Greece and China; however, the minutes said the FOMC saw conditions still approaching those warranting a liftoff.
Greece and EU: Champion of rumors, lord of players
And then, market doesn't forget the Greece drama: champions of rumors, lord of players. Investors are now wondering what will happen next weekend; The common question is what will be the weekend outcome? "A deal by Sunday or Start of Grexit?" Economist Nouriel Roubini clearly says: "Up to Tsipras."
EUR/USD Forecast
Currently, EUR/USD is trading at 1.1072, up 0.56% on the day, having posted a daily high at 1.1093 and low at 1.0974. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
Long story short, the US Dollar Index performed another inside day; however, as reported earlier, the Dollar bias seems to have more upside left up to the 98.00 to 99.50 area. It means EUR/USD down.
On the other hand, FXStreet Chief Analyst Valeria Bednarik Bednarik commented that the EUR/USD needs "to advance above the 1.1120 resistance, to be able to extend its gains over the upcoming sessions." Otherwise... downside.
EUR/USD Levels
As for the short term, if the pair extends gains above 1.1090, next resistances are at 1.1135, 1.1120 and 1.1170. To the downside, supports are at 1.1040, 1.1000 and 1.0915.