After you have already posted one-day rebound yesterday after a sharp fall the day before the face of the Fed meeting, the EUR/USD pair grappille again a little more ground this morning, with a new vertex on 1.1960 (against 1.1862 for the lows post-Fed on Wednesday night).
The origin of this rebound, we find first of all a technique for natural correction, but also the news, with new tensions between USA and North Korea, with the threat of new nuclear tests, despite a series of sanctions in the Security Council of the UN.
These tensions weigh on the Dollar in the first place, for the benefit of the EUR/USD pair, all the more that it had sharply fallen in the face of the Fed, and that profit seemed to be a good idea.
From a graphical point of view, it should be noted that the pair has already canceled more than 50% of the drop post-Fed, but it should be, however, that the Euro Dollar returns above 1.1985-1.20 for that one can consider that the pair is back in its upward trend of background.
Above 1.20, the other objectives are to 1.2030/50/70/90 and 1.21. The downside, the pair is located to the immediate contact of the support 1.1950, under which there is other support at 1.1920, 1.19, and 1.1870.
Finally, it should be noted that from the point of view of the economic calendar, several events will likely influence the exchanges for this last day of the week of trading, including several speeches by central bankers.
It will, in fact, Coeure, Draghi and Constancio side ECB (9.15 am, 10am and 13: 15), as well as Williams, George and Kaplan side Fed (12h, 15: 30 and 19: 30). Regarding the statistics for economic, one would expect the PMI preliminary european September this morning, and those of the USA this afternoon.
Currently, the EUR/USD pair hovers around 1.1955 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.