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EUR/USD : The Euro Dollar continues to push higher, watch for a potential bullish reversal — Forex Stock Trade




EUR/USD : The Euro Dollar continues to push higher, watch for a potential bullish reversal




The EUR/USD pair bounced on the Forex today and threatening to turn upward.

The FOMC of the previous day caused a significant fall of EUR/USD and a rebound in general in the Dollar, with a result that is more hawkish than anticipated, but the movement was not followed today.

Indeed, EUR/USD was hovering around the 1.20 yesterday evening marked a low of 1.1860 a few minutes after the releases of the FOMC, but since the pair has begun to gradually rebound.

The Euro Dollar climbed today to the key resistance of 1.1920, on which he has put the pressure on during a good part of the session.

Statistics US positive this afternoon having failed to elicit a movement of a resumption of the downward, upward pressures seemed to increase, putting further at risk the resistance.

At the end of the day, the level of 1.1920 eventually let go, with a peak intraday to 1.1937 for the time being.

Above then comes the resistance 1.1950, before the zone of 1.1980/1.2000 which remains an area of critical resistance for possible reversal of the uptrend in the short term.

For the reduction, the 1.1920 are the first support the potential, prior to the 1.1900.

Below, the decline could resume its path towards the 1.1860/50, before the important threshold of 1.1825.

A break below 1.1825 is still necessary to strengthen the bearish view and resume the bearish correction from the top of 1.2091.

The range before the FOMC briefly chipped at 1.1825/1.2000, therefore, find its importance, and an exit could herald a recovery trend in the short term.

On the economic calendar tomorrow we will follow the PMI of the euro zone, as well as those of the United States in the afternoon.

The pair EUR/USD is currently trading at 1.1931 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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