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
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.