Market Technical Analysis by RoboForex

[RBFX Support]

The Fed offered no clear signals; now it is the ECB's turn as the market awaits a sharp move in EURUSD

The euro received some modest, short-lived support following the Fed's decision, with the EURUSD rate currently hovering at 1.1140. 

Technical outlook

On the H4 chart, the EURUSD pair formed a Hanging Man reversal pattern during a pullback near the middle Bollinger Band. At this stage, the price could develop a downward wave as the pattern's signal plays out, with the downside target at the 1.1100 support level.

The Fed's decision to leave interest rates unchanged provided some support for the euro, but this was short-lived.

Read more - EURUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

[RBFX Support]

The Fed and ECB keep interest rates unchanged: EURUSD trades sideways

The fundamental outlook for the EURUSD pair remains mixed; however, the US dollar retains an advantage over the medium term, supported by the Federal Reserve's higher interest rates.

Technical outlook

On the D1 chart, the EURUSD pair has formed a resistance level at 1.1260 and support at 1.1115. A local resistance level on the H4 chart has formed at 1.1215, with support at 1.1125. The price has retested last summer’s lows. 

Fundamental factors indicate that the US dollar retains a moderate advantage.

Read more - EURUSD Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team