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EURUSD in neutral near-term mode ahead of Fed

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EURUSD The Euro holds within 50-pips range, maintaining neutral near-term tone, ahead of Fed, due later today. The pair lost bullish momentum and returned below 1.11 handle, following yesterday’s upside attempts that were limited at 1.1123. Strong support zone that consists of hourly base at 1.1070 and rising daily cloud top / 200SMA at 1.1050, maintains bullish structure, developed on massive downside rejection at 1.0820, where double-bottom was left, ahead of surge to 1.1217, post ECB’s rally

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