Analysis

EUR/USD Set for Steady Gains

Having failed to push higher the USD seems to be losing steam. Yesterday, the US Federal Reserve left rates unchanged as widely expected, claiming that the current rate could be considered at an appropriate level. The greenback is showing mixed signs after the event and is now vulnerable for further losses especially against safe-haven currencies like the JPY and CHF.

Trendlines also show that the USD might lose momentum, especially against the EUR. Having defended the 1.1000 support area for now EURUSD might head higher soon. We’d like to buy above resistance at 1.1025 with SL at 1.0990 and TP at 1.1095

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.