EUR/USD Set for Steady Gains

Frank Walbaum FX Strategies.Asia

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

Author

Frank Walbaum

FX Strategies.Asia

Frank has been working in the TV business for several years. Acquiring his skills in Germany’s biggest broadcasting station, he then chose to work and live in Asia, which was in 2007.

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