EUR/USD trades narrowly ahead of FOMC decision; set buy at 1.0980, sell at 1.0800. Rising DXY and bond yields influence direction, while technical analysis points to key resistance and support levels.
EUR/USD trades narrowly ahead of FOMC decision; set buy at 1.0980, sell at 1.0800. Rising DXY and bond yields influence direction, while technical analysis points to key resistance and support levels.
Bullish view
Buy the EUR/USD pair and set a take-profit at 1.0980.
Add a stop-loss at 1.0800.
Timeline: 1-2 days.
Bearish view
Set a sell-stop at 1.0860 and a take-profit at 1.0800.
Add a stop-loss at 1.0950.
(Click on image to enlarge)
The EUR/USD pair drifted downwards after the encouraging Chinese industrial production numbers. It also declined slightly after the February Consumer Price Index (CPI) data. It retreated to 1.0868 as the US dollar index (DXY) continued rising.
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >
Comments
Log in or sign up to join the conversation.