EURUSD showing weakness below the 1.10 price zone after Fed meeting

Share On Facebook
share on Linkedin

Currently we can see that the EURUSD moves below the 1.1000 level and 200 SMA (H1 chart), after the yesterday’s Fed meeting.

This pair technically has shown a very strong weakness , since it’s forming a bearish pattern in the H1 chart. The strongest support has found near to the 1.0900 level. In a way, it was expected that the Fed would keep unchanged interest rates at October’s meeting, which was also an expectation that had the Chief Currency Analyst at FXStreet, Valeria Bednarik.

Because there were no major changes in the FOMC statement this month in terms of monetary policy, the US dollar continues to move in an upward bias, weakening the EUR. Bednarik proposed the following scenario for this currency:

“With the market focused on December, a no-change in the previous wording will likely be seen as dollar positive, as hopes for a rate move before the year-end will remain high.”

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

Do you want to write for our Newspaper? Get in touch:

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20211023 14:46:27