EUR/USD Forex Signal: Stuck In A Tight Range Ahead Of FOMC Decision

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)

EUR/USD Signal Today - 19/03: FOMC Awaits (Graph)

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.


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