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EUR/USD-pressure remains bearish, after a plunge of more than 100 pips in the face of the Fed meeting yesterday evening — Forex Stock Trade




EUR/USD-pressure remains bearish, after a plunge of more than 100 pips in the face of the Fed meeting yesterday evening




The pressure remains bearish this morning on the EUR/USD pair, after the Fed meeting yesterday evening, which has given rise to a very strong fall.

In fact, after having hesitated around 1.20 in the course of the day yesterday, the Euro Dollar plunged in the evening to a low of 1.1862, and finally back up to 1.19 last night. Since that time, an immediate support on the 1.1870 is emerging.

Remember that the Fed held a meeting rather hawkish, announcing the possibility of further rate hike before the end of the year, and then the other 3 in 2018, which clearly favoured the greenback, especially as it had dropped in anticipation of the Fed meeting.

From a graphical point of view, a break of support 1.1870 would raise the downside, with potential targets to on 1.1850, 1.1825 and 1.18.

Has the upside, initial resistance lies at 1.19, before 1.1920, 1.1950, 1.1985 and 1.20, and then 1.2020-30.

As regards the economic calendar of the day, traders will monitor the index of the Philadelphia Fed and the entries weekly jobless claims US 14: 30, then a speech of Draghi at 15: 30.

Currently, the EUR/USD pair hovers around 1.1880 on the forex.

Chart EUR/USD H1
See also our charts EUR/USD in real time.

This chart has been realized with the trading platform TradingStation 2 provided by FXCM France.



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