EUR/USD dropped in the aftermath of the FOMC statement and economic projections, that included the third taper and lower unemployment forecasts. The first move sent the pair around 80 pips and it maintained a safe distance from the all important 1.3830 line. As the new Fed Chair Janet Yellen talks, the US dollar continues strengthening and the EUR/USD falls below this level. The level is a clear separator but the break still awaits confirmation: Update: EUR/USD loses uptrend support on second Yellen tumble – the move goes on. Here is the daily chart: As the thick black line shows, uptrend support running from early January is getting closer. It stands just under 1.38 in this daily chart. Another support line is 1.3773, which worked as a double top and was eventually broken. The round number of 1.37 is the next level. More levels, events and analysis can be found at the EURUSD forecast. Analysis: 5 reasons for USD rally on the Fed decision Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next USD/CAD at new 4 year high on Fed decision Yohay Elam 8 years EUR/USD dropped in the aftermath of the FOMC statement and economic projections, that included the third taper and lower unemployment forecasts. The first move sent the pair around 80 pips and it maintained a safe distance from the all important 1.3830 line. As the new Fed Chair Janet Yellen talks, the US dollar continues strengthening and the EUR/USD falls below this level. The level is a clear separator but the break still awaits confirmation: Update: EUR/USD loses uptrend support on second Yellen tumble - the move goes on. Here is the daily chart: As the thick black line shows, uptrend… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
