18 Jun 2014
EUR/USD trading slightly higher ahead of Fed announcement - FXStreet
FXStreet (Barcelona) - FXStreet Chief Analyst Valeria Bednarik notes that the EUR/USD is trading slightly higher ahead of FED meeting result, approaching recent highs in the 1.3570/80 price zone, but as usual lacking momentum either side of the board.
Key quotes
"The US Central Bank will release its monthly economic policy decision in a few hours, and expectations are pretty low on the event, as the FED is expected to trim another $10B from its QE."
"If something can bring action to the market is the following statement and the clues it may bring on upcoming policies, albeit expectations are on a more discrete Janet Yellen, who triggered some wild moves when she suggested rates can be rose next spring, past March."
"Short term, the hourly chart shows a mild bullish tone, with price pressuring highs above its moving averages and indicators in positive territory. In the 4 hours chart however, the pair maintains the neutral stance seen on previous updates."
"Latest range should hold over the next few hours, with a price acceleration above 1.3580 favoring a run towards 1.3640/50 price zone, and a break lower pointing for attest of 1.3475 this year low."
Key quotes
"The US Central Bank will release its monthly economic policy decision in a few hours, and expectations are pretty low on the event, as the FED is expected to trim another $10B from its QE."
"If something can bring action to the market is the following statement and the clues it may bring on upcoming policies, albeit expectations are on a more discrete Janet Yellen, who triggered some wild moves when she suggested rates can be rose next spring, past March."
"Short term, the hourly chart shows a mild bullish tone, with price pressuring highs above its moving averages and indicators in positive territory. In the 4 hours chart however, the pair maintains the neutral stance seen on previous updates."
"Latest range should hold over the next few hours, with a price acceleration above 1.3580 favoring a run towards 1.3640/50 price zone, and a break lower pointing for attest of 1.3475 this year low."