EURUSD forex technical analysis | Our expectations:
The price remains locked in a tight consolidation of the daily chart, after being pushed back by key diagonal resistance today. If today's bar closes over 50SMA breaks over the moving average will be valid and this may give rise to a higher probability of long positions, but they will be risky. In this situation, profitable long positions are at levels of 1.13 and short of 1.15 if we trade consolidations.
Alternately and most accurately, wait for a break in one of the directions and confirmation of the breakthrough, and then position the long-term pair.
The USD fundamentals gained a slight change since the FED meeting, after Fed's expectations were reduced to 2 interest rate hikes in 2019 from previous expectations for 3. Currently, these moods are accumulated, and it is possible that the next move will be upward in the pair, but the conservative option remains awaiting confirmation.
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