EUR/USD Fails To Sustain 1.12 Zone
FxGrow | Sep 21, 2016 07:15AM ET
EUR/USD fails to sustain 1.12 zone, U.S. dollar still moving bullish against all currencies
EUR/USD is still trading since Friday 16 Sep below weekly pivot 1.1195. On Friday, EUR/USD clocked a high 1.1250 but failed to maintain this level. It dropped dramatically later trading now at 1.1138, still below weekly pivot which indicated a more bearish drop for later on. Today major news on U.S. FOMC that will dictate the market trend for the coming weeks.
Key levels to watch: H5 PP 1.1138 , first resistance R1 1.1155, R2 1.1174, R3 1.1201, R4 1.1221
First support S1 1.1123, S2 1.1106, S3 1.1095, S4 1.40
Trend: Downward, trend set by traders and later on FOMC news
Remark: Look forward at 7 PM GMT for major news on FOMC decision
Disclaimer: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
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