EUR/USD firmer, eyes 1.1380

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The offered around the dollar keeps growing bigger today, now pushing EUR/USD to the area of fresh tops near 1.1380.

    EUR/USD now focuses on Lockhart, Evans

    The pair keeps its relentless march towards the boundaries of the critical barrier at 1.1400 at the end of the week, bolstered by the selling mood around the dollar in response to yesterday’s dovish tone from the FOMC minutes.

    In the meantime, the greenback continues to suffer dwindling expectations of a Fed’s lift-off at some point later in the year in favour of a rate hike during Q1 2016.

    Fed’s Lockhart and Evans will give speeches later on, along with US Whole Sale Inventories during August.

    EUR/USD levels to watch

    As of writing the pair is advancing 0.78% at 1.1364 and a breakout of 1.1400 (psychological level) would target 1.1460 (monthly high Sep.18) and then 1.1714 (high post-PBoC move Aug.24). On the flip side, the immediate support lines up at 1.1224 (55-d sma) followed by 1.1174 (2-month up trend) and then 1.1107 (monthly low Sep.23).
    For more information, read our latest forex news.

Share This Page

free forex signals