EUR/USD Showing Strength Due To USD Weakness

The EUR/USD is showing strength due to neutral to dovish FED and USD weakness. The USD weakness is even more pronounced as EUR/GBP is flat and DAX is pushing higher that goes completely in accordance with my previous DAX analysis and US Fed decision market impact. There is a risk-on in the markets because Bond Yields are staying the same.

At this point EUR/USD POC zone is 1.1200-1.1215 (H3,38.2,historical buyers) and a pullback towards the zone could be use for potential long trades. However a clear break and close above red trend line is needed for price to push higher towards 1.1263 that is an X-Cross ™ target confluence. 1.1285 is showing historical sellers so we might see some sell off around this level.

Disclosure: None.

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Chee Hin Teh 8 years ago Member's comment

thanks for sharing