Home EUR/USD Technical Analysis: Calm before the Fed storm as Euro struggle below 1.1370 key resistance
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EUR/USD Technical Analysis: Calm before the Fed storm as Euro struggle below 1.1370 key resistance

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EUR/USD daily chart

  • EUR/USD is trading in a bear trend below its main simple moving averages (SMAs).
  • The 100 SMA is at 1.1369, a break above it would be seen as bullish.
  • The FOMC at 18.00 GMT can lead to high volatility. A hawkish Federal Reserve would be seen as bearish for EUR/USD and a dovish stance would be seen as bullish.  

EUR/USD 4-hour chart

  • EUR/USD is trading above its main SMAs suggesting bullish momentum in the medium-term.

EUR/USD 30-minute chart

  • EUR/USD is trading above its main SMAs suggesting bullish momentum in the short-term.  
  • Bulls will need a break above 1.1370 key resistance to climb towards 1.1420 and 1.1500 figure.
  • To the downside, support is at 1.1340, 1.1325 and 1.1300 figure


Additional key levels

 

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