EUR/USD Price Analysis: Bulls coming up for air into the Fed
|- EUR/USD is on the verge of a restest of critical resistance.
- The confluence of the 61.8% Fibo with prior lows is compelling.
EUR/USD is riding the trendline support towards the 61.8% Fibonacci retracement level of the prior bearish impulse.
The crosses are also poised for upside continuations in EUR/JPY for instance were bulls need a clean break of 133.50:
EUR/USD daily chart
As illustrated, the price is supported by a dynamic trend line support with sights on the 21-day moving average and the prior lows that meet the 61.8% Fibonacci retracement level.
The US dollar will be in focus over the next few sessions due to the Federal Reserve:
US Dollar Index Price Analysis: DXY looks set for a bumpy road to 91.00 on FOMC day
Traders will be hoping for a catalyst to shake forex out of its lull and spur volatility one way or the other.
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