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FOREX: EURUSD After FOMC and Before J. Powell at 19:00

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EURUSD

Time frame: H4

Technical picture: After yesterday's publication of the FOMC meeting report, the key resistance of 1.1500 has been broken. The bullish impulse found resistance from the previous bottom formed on 29-30.05.2018 at 1.1560.

Our Expectations: After a probable retest of 1.1500 support and a "dovish" tone by FED J.Powell, we could see a test of the resistance from 200-day moving average at 1.1640.

Alternative scenario: If investors recognize "hawkish" notes in Powell's tone, we can probably see the price back in the rage channel launched on 07.11.2018. Let's not forget that we are in a downward trend and the price is below 200-DMA


 Trader Velizar Mitov

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