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Euro left floundering as pound and dollar take off

Discussion in 'Technical Analysis' started by ForexLive, May 19, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
    Likes Received:
    EURUSD holding strong support after FOMC induced dollar rally The risk was the FOMC minutes so I left it alone over that event. Yesterday I highlighted the 1.1200/20 level as one I'd be looking at taking a long from. I'm undecided over taking the trade as although the support has held, the minutes were pretty hawkish which is going to keep the fire lit under the dollar. The price action today shows that we're at an impasse. Support is holding but bounces are weak.

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