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EUR/USD awaits the FOMC minutes

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 18, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - EUR/USD is currently trading at 1.0646 with a high of 1.0692 and a low of 1.0622.

    EUR/USD is changing hands in a tight range as we head in towards the FOMC minutes. The consensus is for lift off this December and markets will be looking for clarification of this from within the minutes, with a particular focus on the Summary of Economic Projections and how global developments could be a deflationary factor in respect of the path of interest rates next year. Meanwhile, there has been a lack of EZ data but the tone remains with a dovish outlook from the ECB and the divergence between them and the Fed is compelling.

    EUR/USD levels

    Technically, the major broke recent key support and the losses below of this support at 1.0850 has left the door open for further supply and bears could be targeting the April low at 1.0520 ahead of the 1.0457 March lows.
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