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EUR/USD : The Euro Dollar ended the session quietly, waiting for the FOMC tomorrow evening — Forex Stock Trade

EUR/USD : The Euro Dollar ended the session quietly, waiting for the FOMC tomorrow evening

The pair EUR/USD has experienced a session quite calm on the Forex without a lot of volatility or breaks important techniques.

In fact, after having found support on the support of 1.1920, the Euro Dollar has started a rebound towards 1.2000, which has been hit this night.

However, this threshold has offered a strong resistance, which has caused a consolidation below, but without a significant correction first.

Subsequently, the announcements around the ECB and a possible deferral of the decision on the QE in December, has created a wave of decrease in the direction of 1.1952, but the movement is kept fairly short.

Since EUR/USD consolidates quietly around 1.1980, while Trump made a speech quite virulent against North Korea, showing that the geopolitical tensions are still strong.

As a reminder, Doland Trump has threatened «total destruction» North Korea if it does not stop its nuclear operations.

But there has been no announcements of concrete that have disrupted the markets, which leaves EUR/USD consolidate in the meantime the next major events.

Tomorrow the attention will turn to the FOMC meeting, where the Fed could announce its programme of reducing the balance sheet.

The new economic forecasts and projections of interest rates, and the speech of Yellen will also be closely monitored, to estimate the chances of a rate hike in December.

In terms of economic publications, we will have existing home sales, a statistic that would go unnoticed before the FOMC.

The range of the 1.1825/1.2000 thus remains in place before the Fed meeting, as we move close to the resistance.

A break above could boost the short-term increase, but this should be done ideally after the FOMC to have a sustained trend and be able to target a return to the recent peaks in the area of 1.2090..

For the reduction, we will have racks to 1.1950, 1.1920 and 1.1900, before the area key support of 1.1850/1.1825.

A break below could then re-run the decline in short-term.

The pair EUR/USD is currently trading at 1.1980 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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